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EUR/USD showing strength due to USD weakness


The EUR/USD is showing strength due to neutral to dovish FED and USD weakness. The USD weakness is even more pronounced as EURGBP is flat and DAX is pushing higher that goes completely in accordance with my previous DAX analysis and US Fed decision market impact. There is a risk-on in the markets because Bond Yields are staying the same.

At this point EUR/USD POC zone is 1.1200-1.1215 (H3,38.2,historical buyers) and a pullback towards the zone could be use for potential long trades. However a clear break and close above red trend line is needed for price to push higher towards 1.1263 that is an X-Cross ™ target confluence. 1.1285 is showing historical sellers so we might see some sell off around this level.

Source: https://www.admiralmarkets.com/analytics/technical-analysis/
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