We commit to never sharing or selling your personal information
As things stand right now, we are still very much in this larger consolidation area between 1.0750 on the bottom and 1.10 on the top approaching the bottom.
On the other hand, if we turn around the 50 day EMA opens up the possibility of a move to the 1.0920 level and then eventually the 1.10 level. The euro is going to be very noisy when it comes to this week because we have the FOMC meeting and with that being the case that will have a lot of volatility coming into the market with the press conference more than anything else moving the markets unless of course the Federal Reserve decides that they are going to change monetary policy. It's not really expected, and the Federal Reserve has shown itself to not want to spook the markets anymore. So, with that being the case I think it will be however the market reads the noise coming out of the press conference and whatever statement Powell says.
Forex Brokers We Recommend in Your Region
As Things Are Now…
As things stand right now, we are still very much in this larger consolidation area between 1.0750 on the bottom and 1.10 on the top approaching the bottom. So, I do think we probably are getting close to seeing value hunters coming into the market, but I like the idea of fading signs of exhaustion after short-term rallies. That being said, the next 48 hours might be somewhat quiet, unless of course the market sniffs out the idea that the Federal Reserve is going to be tighter than anticipated. It’s difficult, because quite frankly the markets seem to be running on the latest rumor more than anything else at the moment. I’ll be paying close attention to the 1.0750 level as it should be a crucial area of confluence.
Ready to trade our Forex daily forecast? We’ve shortlisted the best FX trading platform in the industry for you.
We will connect you with the broker that is most compatible for you.
Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.
Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.