EUR/USD - WIll this Resistance break?

Euro Fx/U.S. DollarFXCM

Description

⋅ Jan 11, 2022 10:02 PM

Hey tradomaniacs,

after Jerome Powells hawkish speech we`ve seen a turn today as US-DOLLAR got sold off.

Headlines from Powell:

1️⃣ „We will react if inflation lasts longer than we expect..."

2️⃣ "Need price stability in order to achieve full employment and a decenteconomic growth."

3️⃣ "Increasing wages are generally good but could fuel inflation. Wages weren`t rising like that for decades."

4️⃣ "Economy needs no fiscal support anymore."

5️⃣ "We will probably increase the interest rates through the year."

6️⃣ "Inflation will probably last until the middle of the year."

7️⃣ "We will reduce the total assets faster than last time - Will need two or three meetings for a decision."

Don`t know why the market reacts so friendly, probably because market participants were expecting even more hawkish tones.

Do you think EUR/USD will break the resistance?

Let me know what you think!

Comments

Super_B_XinR

⋅ Jan 12, 2022 2:21 AM

Price reflects everything, it represents the market consensus and sentiment, which is displayed on the board and in turn influences our judg. I like the brief you provided, this format makes it easier for other traders to get key information.

Trading2ez

⋅ Jan 12, 2022 10:33 AM

@Super_B_XinR, thanks a lot bro =) Appreciate it !!! Nice chart btw. :-)

BigBuxTrading

⋅ Jan 11, 2022 11:30 PM

I think we may see a new low down at support again.... around 1.1250, jmho

Trading2ez

⋅ Jan 11, 2022 11:31 PM

@sdubyag, me2^^ thanks for your opinion

BigBuxTrading

⋅ Jan 11, 2022 11:33 PM

@Trading2ez, if that gets broken, watch out below :)