View full page at forexfactory.com

 

Euro Price Outlook: EUR/USD V-Shaped Reversal Stalls Before 1.1000

From forex.com

It was looking bleak for the Euro as we traded through the month of September, but just as last Q4 showed signs of change in the pair, matters began to shift in August and then reversed in November. Ahead of the FOMC rate decision on November 1st there was even potential for a continued EUR/USD breakdown. The pair made a push down to support of 1.0520 that morning and the door was seemingly open for sellers to push for another test through the 1.0500 handle. But as the statement was released and as the press conference began, the US Dollar began to slide-lower, and this helped to buoy the Euro in the EUR/USD pair. ... (full story)

Story Stats

  • Posted:
  • Category: Technical Analysis