EURUSD: Benefit from interest rate news from the Fed
Updated
Hello everyone! Today, do you think EURUSD will rise or fall in price?
Currently, the currency pair EURUSD is showing a good upward trend as the Federal Reserve (Fed) has shifted towards cutting interest rates after several months, causing the US dollar to decline significantly.
Driven by the sharp decline in the US dollar, the EUR/USD pair has surpassed the 1.0820 level and risen to the 1.0900 area. There is a strong resistance zone around that area which may limit further price increases.
However, a breakthrough above that level could bring in more profits, with the next resistance level seen at 1.0930. The target of 1.10 could be achieved if the US dollar continues to decline and the current resistance level is broken by buyers.
Currently, the currency pair EURUSD is showing a good upward trend as the Federal Reserve (Fed) has shifted towards cutting interest rates after several months, causing the US dollar to decline significantly.
Driven by the sharp decline in the US dollar, the EUR/USD pair has surpassed the 1.0820 level and risen to the 1.0900 area. There is a strong resistance zone around that area which may limit further price increases.
However, a breakthrough above that level could bring in more profits, with the next resistance level seen at 1.0930. The target of 1.10 could be achieved if the US dollar continues to decline and the current resistance level is broken by buyers.
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