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EUR/USD, Technicals Take it up with Fed Funds Rate

By DailyForex.com

 By: Bradley C Smith

The Federal Funds rate is forecast to be the same, so me must turn to the technicals to find where the EUR/USD might take us today. Price action reveals a slight downtrend and a few candles with a wide range to support that. Each technical window is ready to lift this pair from it's recent decline however, that will depend on the 1:15 est release today. Until that time, the pair will likely creep upward after such a steep fall yesterday.

 

 

The three hour chart's technical indicators are also ready to do the hard lifting labor today. They are likely to help the pair climb slowly upward from the oversold area it is in, until a solid Federal Funds Rate number is released today.


1:15pm est USD


Federal Funds Rate Forecast <0.25% Previous <0.25%


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