In light of Fed Rates being increased in the third quarter, and with insight into future fed rates, we should see the USD strengthen considering the upcoming events.
US10Y
are around 3% ahead of the events. A hawkish hike can send them to new multi-year peaks, carrying the USD with them
EUR/USD could continue its move downwards.
The FOMC meeting should propel EUR/USD to break through the 4hr trendline.
Resistance Level: 1.18200, 1.17941
Support Level: 1.16168, 1.15161
US10Y
are around 3% ahead of the events. A hawkish hike can send them to new multi-year peaks, carrying the USD with them EUR/USD could continue its move downwards.
The FOMC meeting should propel EUR/USD to break through the 4hr trendline.
Resistance Level: 1.18200, 1.17941
Support Level: 1.16168, 1.15161
Comment:
Congrats to all those who caught the breakout, now look out as price has just hit support level, could see a pullback now