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​Technical Analysis EUR/USD

STO

The previous week we saw EUR/USD reach a 9 month high, the correction beginning with US Federal Reserve’s interest rate decision which is still in progress. Before noon on the Thursday, the EUR saw support ECB meeting, which showed signs of predictability. With the release of positive US real estate market data and the speech of the member of FOMC Powell, asking for a more hawkish interest rate, - the dollar experienced support, bringing the EUR/USD down to 1.1150.

The US is slate to release business and service sector activity at 15:45 (GMT+2): business activity seems to be showing growth whereas services activity is expected to experience a slight drop. New housing sales data for the U.S. will be published at 16:00 (GMT+2) which are expected to grow by 28,0000. Finally FOMC Governor Jerome H. Powell will speak at 20:15 (GMT+2) which might indicate towards a dovish or hawkish stance in regards to future interest rates.



This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-eurusd
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