Dear traders,
As we have mentioned yesterday in our analysis, the upside movement of the EUR/USD prices faced a strong resistance at 1.2333 and the slide of the prices found support at 1.2216 after the Fed policy meeting disappointment. The same setup remains in place and the ECB policy meeting today is expected to drive the prices outside the range 1.2206—1.2335, depends on the decision. It is important to notice that both the Stochastic and the RSI (14) signal that more room for the downside is available.
Support 1: 1.2214
Support 2: 1.2160
Resistance 1: 1.2275
Resistance 2: 1.2302
Nice trading all
Source mbcfx.com
As we have mentioned yesterday in our analysis, the upside movement of the EUR/USD prices faced a strong resistance at 1.2333 and the slide of the prices found support at 1.2216 after the Fed policy meeting disappointment. The same setup remains in place and the ECB policy meeting today is expected to drive the prices outside the range 1.2206—1.2335, depends on the decision. It is important to notice that both the Stochastic and the RSI (14) signal that more room for the downside is available.
Support 1: 1.2214
Support 2: 1.2160
Resistance 1: 1.2275
Resistance 2: 1.2302
Nice trading all
Source mbcfx.com