Forex technical analysis: EURUSD prepares for FOMC

Discussion in 'Technical Analysis' started by ForexLive, Mar 17, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Falls to new week lows The EURUSD is trading at new session lows/new week lows. In the process the price has moved below the 38.2% retracement of the move up from ECB Thursday low. That level comes in at 1.10653. The 200 hour MA - which has been steadily rising toward the price this week, is on a collision course with price now. That level comes in at 1.1055. A move below that and the 200 day MA at 1.10436 looms. Needless to say there are some key levels that could hold up a more bearish party for the pair - at least in front of the FOMC decision at 2 PM ET.

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