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Forex technical analysis: EURUSD moves lower on the statement...

Not running away (in fact retracing the move down). Yellen to follow.

The EURUSD moved to new session lows on the back of the Fed rate hike, but to call the reaction a bit muted is an understatement. The prior low for the day was 1.0912. The new low is 1.0886. The range for the day has been extended to 82 pips which is still 24 pips short of the average over the last month of trading. It is a good thing we got the extension higher in pre-FOMC trading. The next target below comes in at 1.0852-63. a move below this level is needed to solicit more selling. On the topside, the 200 hour MA at 1.09329 will be eyed. Trading at that level and above it now. 100 hour MA at 1.09639 is above it.

Yellen to follow. Risk still elevated.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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