The EUR/USD whipsawed but them moved higher as there was no clear sign revealed that the FOMC might hike rates in September. The Federal Reserve's next
The EUR/USD whipsawed but them moved higher as there was no clear sign revealed that the FOMC might hike rates in September. The Federal Reserve’s next policy meeting is four weeks away and officials show no clear sign of having settled on a decision about whether to raise short-term interest rates at that time. The dollar received no benefit from Wednesday CPI data which showed that consumer prices were in line with expectations.
The EUR/USD pushed back through the 50-day moving average at 1.1075, and are poised to test a downward sloping trend line at 1.1185. Support below the 50-day moving average is seen near 1.095. Momentum remains positive with the MACD printing in the black with an upwards sloping trajectory that points to a higher exchange rate.
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.