EURUSD : Fed interest, oversold, historic, simple 4.5
Aggressive interest rate hikes HINTS from FED is causing USD to skyrocket.
In contrast, ECB is hinting on stimulus end and interest hikes only after Q3 bond purchasing ends.
But let's be practical.
*RSI 14 on daily is extremely low
*Connecting lows of drop shows support around 1.105
*Horizontal support stretching all the way back to 2003 shows strong support between 1.035 to 1.05, with multiple tests around 2015, 2016, 2020 most recently.
Today's FED interest rate decision may cause volatility to retest ~1.08 as the EUR is extremely oversold.
Consider the hikes from FED are already implemented in the price of the very high USD.
On the other end we have really strong support around 1.035 which may be tested.
Trade safe at time of volatility and always consider the worst case scenario.
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Thank you so much for reading, it's highly appreciated.
If you found my idea useful, please like and follow! It would mean the world to me.
Always seek independent advise, research when trading and act with caution.
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In contrast, ECB is hinting on stimulus end and interest hikes only after Q3 bond purchasing ends.
But let's be practical.
*RSI 14 on daily is extremely low
*Connecting lows of drop shows support around 1.105
*Horizontal support stretching all the way back to 2003 shows strong support between 1.035 to 1.05, with multiple tests around 2015, 2016, 2020 most recently.
Today's FED interest rate decision may cause volatility to retest ~1.08 as the EUR is extremely oversold.
Consider the hikes from FED are already implemented in the price of the very high USD.
On the other end we have really strong support around 1.035 which may be tested.
Trade safe at time of volatility and always consider the worst case scenario.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Thank you so much for reading, it's highly appreciated.
If you found my idea useful, please like and follow! It would mean the world to me.
Always seek independent advise, research when trading and act with caution.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Trade active:
Support of 1.035 is holding and may very well be the lowest point we will see this year!
Trade active:
Since the support of 1.035 was reached, rate almost reached resistance of 1.0895!
Currently trading at 1.0750!!
That's a 400 pip catch from horizontal support level - Buy signal is higher than 1.0533
Currently trading at 1.0750!!
That's a 400 pip catch from horizontal support level - Buy signal is higher than 1.0533