The EURUSD and Daily were trading in well defined intervals in recent weeks, will be announcing US Federal Reserve bank of tomorrow to be the catalyst that breaks these pairs of their ranges?
Merchants have been anticipating more quantitative easing by the Federal Reserve Bank of the United States, but it is unclear how the Fed will inject the American economy stalled. we may see more consolidation in Major break free from their recent commercial ranges if the announcement of the Fed disappoints, however, the ad should meet or exceed the expectations that we can see only the dollar further weakening of the trader and the EURUSD and Daily finally.
EURUSD chart daily:
EURUSD chart daily with 8 and 21 emas by day:
Daily daily chart:
As a side note, we recently made a blog post about the Australian dollar to achieve equality, it seems that the daily parity-party is on!
For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.
Comment:
The dollar fell by 0.7 percent against a basket of major currencies, the correlation between the dollar and the S & P 500 was very close in recent weeks, standing at about-0.84,-1 is a perfect inverse correlation.
The dollar is likely to weaken in Federal Reserve monetary policy announcement tomorrow, after the news is released we could see a "buy the rumor, sell the fact" scenario with a slight descent-back to Eve recently against the dollar in most of the majors.
The Dow added 64.10 points or 0.58%, was the S & P 500 points or 0.78 9.19% and the Nasdaq added 28 68 points, or 1.14%.
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