Hello Traders, EUR/USD has rebounded strongly just after touching the
100-day EMA level. The rebound was fueled by the FOMC event yesterday.
Technically, this is a bullish sign. There is no resistance until 1.0980
level, so we can expect price to reach the 1.0980 level soon. Keep in mind
that this is a very weak resistance, so if there is enough bullish impulse, this
resistance may be broken soon.
A stronger resistance lies at 1.1140 which is our first target for selling
100-day EMA level. The rebound was fueled by the FOMC event yesterday.
Technically, this is a bullish sign. There is no resistance until 1.0980
level, so we can expect price to reach the 1.0980 level soon. Keep in mind
that this is a very weak resistance, so if there is enough bullish impulse, this
resistance may be broken soon.
A stronger resistance lies at 1.1140 which is our first target for selling
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Price seems to be going through a pullback, it is likely that the FOMC-induced spike will be faded
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Witnessing heavy selling pressure, the spike is being completely faded here
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Selling pressure still visible, price testing 100day EMA level.
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This idea has generated 130 Pips profit