Euro Battling Key Resistance Once Again

The U.S Federal Reserve will release its FOMC Statement later today. Speculators are battling important resistance with the Euro and showing signs of strength.

Euro Recovery Points to New Reality

A new reality is emerging for the Euro as it recovered lost ground suddenly on Tuesday, and remains near its highs this morning, around 1.2460 against the U.S Dollar.

The combination of better E.U economic reports and a European Central Bank which appears ready to tinker with its monetary policy in the mid-term are helping the Euro sustain its values. Support looks to be around 1.23 for the Euro, but in the meantime, the Euro is battling key resistance once again against the U.S Dollar.

Trump Didn’t Mention U.S Dollar

The U.S Federal Reserve will release its interest rate policy and a statement later today, but in a telling sign ‘perhaps’, President Trump did not speak about the U.S Dollar last night during his State of the Union address.

And after saying there is a trade imbalance with the European Union this past weekend, an assumption can be made the current White House Administration may not be disheartened if the U.S Dollar loses additional value.

In the short term and mid-term we believe the Euro may be positive. Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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