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Jul 28 - 08:55 PM

EUR/USD - March Higher Stalls Ahead Of FOMC

By John Noonan  —  Jul 28 - 06:55 PM
  • EUR/USD opens 0.30% lower after rallies sold on profit taking

  • Market is long and taking some profit ahead of Fed decision later today

  • EUR/USD failed to make a higher high for first time in 8 trading days

  • Sequince of higher daily lows continued for 8th straight day

  • Break below yesterday's 1.1699 low would warn trend is losing momentum

  • Trend higher continues with 5, 10 and 21-day MAs in bullish formation

  • Support is at 10-day MA at 1.1580 and break would suggest top forming

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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