Sforex
Short

EURUSD: Why Dollar is bought across the board.

FX:EURUSD   Euro Fx/U.S. Dollar
585 0 5
The price action of EURUSD             and most major currency pairs make all of us confused; USDollar             was sold vs major currencies in Europe trading session and then was bought across the board in North America trading session.

After holding the rate unchanged, we see market punished USdollar             right after the decision, and I also think the trend should continue, but what I see is market bids for Dollar strongly.

Why does it happen ?

We ignore an important message which FED Chairwomen sent in the press conference : every meeting is a live meeting including October meeting, and the option is still on the table. Most likely FED will begin the tightening circle before the end of year.

Economists and traders around the world unanimously agree that FED will trigger the first rate hike in this year : I also believe that.

Hence, from now to that time, WE WILL SEE MARKET WOULD FIGHT TO BUY DOLLAR AGRESSIVELY ACROSS THE BOARD.

Next week, only US GDP revision, Durable Good Orders, and Housing market data are main data; in addition, we should listen FED member speeches to find more clues and watch their viewpoint about current US economy.

Today is just the beginning.

- Technical Analysis

Look at on the chart, ignore the spike of EURUSD             to 1.1700, I see a strong resistance at 1.1450

Today I see EURUSD             once rejected this resistance; in my opinion, the rally is just temporary, and EURUSD             should be trade lower at least to 1.1100 where I see a strong support at there.


--------Sforex Solution-Trackingforexsignals.com----
http://www.trackingforexsignals.com
www. facebook             .com/trackingforexsignals

Contact: admin@trackingforexsignals.com

Think the right way..
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out