The EUR/USD moved lower on Wednesday and is poised to test horizontal trend line resistance following a speech from FOMC chair Janet Yellen. Yellen
The EUR/USD moved lower on Wednesday and is poised to test horizontal trend line resistance following a speech from FOMC chair Janet Yellen. Yellen reiterated December is a “live” meeting in Q&A. She said the economy is performing well as she dodged a question on the benefits and costs of raising rates in December before inflation picks up. She still suggested that transitory effects from energy prices are keeping price pressures low.
Momentum on the currency pair remains negative with the MACD printing in the red with a downward sloping trajectory. The RSI (relative strength index) moved lower with price action reflecting accelerating negative momentum.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
