Trading signals

EUR/USD

EURUSD

The Fed interest rate decision is the key event today. The Fed will most likely cut the rate one more time that will send the dollar further down. Moreover, the US dollar is under pressure amid downbeat US data and concerns regarding the US and China trade deal.

 

The main scenario is a further upside towards the 1.1130 area.

An alternative scenario is a return below 1.1100. 

 

Trading recommendations

 

If the euro fixates above 1.1100, the pair may extend its gains towards 1.1130.

A break below 1.1100 will show room for further downside towards 1.1080.

 

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