Fundamental analytics

FOMC meeting results continue to influence the EUR / USD pair


The EUR / USD pair continues to move up against the background of a large-scale weakening of the dollar. The American currency came under pressure after the announcement of the FOMC Meeting Results, at which the regulator kept the rate unchanged, but hinted at its possible reduction at the next meeting.

Today, the FOMC decision was commented on by Donald Trump. He noted that he would like to see the rate increase at the current meeting, but was generally satisfied that the regulator seems to be ready to soften the policy at subsequent meetings.

Today, the market will focus on a large block of economic statistics from the US and Europe, which will include preliminary PMI data for the manufacturing and services sectors. Here the most important indicator is the PMI of the manufacturing sector in Germany. Also in Europe today will be a special summit of EU leaders, which will elect new leaders of the European Commission, the European Council and the ECB.

In the US, we monitor the performance of FOMC representatives of Daly, Brianard and Mester, as well as data on sales in the secondary housing market and PMI of the services and production sectors.

On the chart, the price yesterday was able to overcome the level of 1.1290, indicating the priority in favor of the further development of the upward movement. Accordingly, now the next target for the bulls is the nearest local maximum at 1.1345, which with a high probability can be updated today. You can wait for the resumption of the upward movement from the current levels.

· Resistance levels: 1.1310, 1.1345, 1.1360.

· Levels of support: 1.1285, 1.1245, 1.1210.

The main scenario - growth to 1.1345.

An alternative scenario - consolidation below 1.1285 and a decline to 1.1245.

Locally, the bullish wave continues to develop on the market and there are no strong reversal formations on the chart, therefore, within the day, we prefer longs, which can be considered at the current price of 1.1285


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