EUR / USD: No bullish reversal signal after the Fed
Despite the abandonment of the word "patient" in the discourse of Janet Yellen, the US dollar plunged during the speech of the President of the FED. The rate hike before the end of the year is now almost certain to see a growth forecast of 2.5% comfortable. However, the speech is relatively more accommodating because it said the unemployment targets are not achieved, inflation remains low but also that the US dollar is too strong.
The bearish reaction in the US dollar finally afterwards was more measured. The euro dollar gained 500 pips in a straight line 250 subsequently falls this morning !
Technically, the downtrend is still relevant as the upper limit has rightly been tested well last night. The trend remains clearly bearish with two terminals close monitoring: 1.1083 and 1.05. A long can be opened to the crossing of the upper limit, while breaking the lower limit would cause a downward acceleration to below parity of 1 euro for 1 dollar.
The bearish reaction in the US dollar finally afterwards was more measured. The euro dollar gained 500 pips in a straight line 250 subsequently falls this morning !
Technically, the downtrend is still relevant as the upper limit has rightly been tested well last night. The trend remains clearly bearish with two terminals close monitoring: 1.1083 and 1.05. A long can be opened to the crossing of the upper limit, while breaking the lower limit would cause a downward acceleration to below parity of 1 euro for 1 dollar.