EUR/USD consolidates above 1.14 after Fed

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Volatility is likely to remain high as markets, like the Fed, will still have to confirm the U.S. economy is withstanding the adverse impact from the global economy."
- JPMorgan Asset Management (based on Reuters)

Pair's Outlook

After the Fed decided to keep interest rates on hold, EUR/USD skyrocketed up to the 1.14 level where it consolidated by the end of yesterday. Meanwhile, the pair was mainly stopped from rising further by the Jun high at 1.1437. With Friday estimated to be tranquil in terms of volatility, our outlook is quite neutral with respect to the pair. This view will be unchanged as long as the pair keeps trading below Jun/May highs' area of 1.1447/66. A risk of correction is therefore remaining in place for the time being.

Traders' Sentiment

EUR/USD's sentiment is flat for a fourth consecutive day as the share of bulls amounts to 47%. On the other hand, the portion of long pending orders in 100-pip range from the spot is 57% at the moment.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.