The EUR/USD pair reacted positively to the Fed meeting on Wednesday night, and posted; new gains this Thursday morning, going up for the moment until’ a vertex at; 1.1119.
Recall that the FOMC meeting last night gave place at a 25 basis point rate hike, as widely expected, but provided no hint that it will continue to hike rates, saying only that its decisions will depend on the data. es.
However, the market chose to view the Fed and Powell statements as a dovish bent, which weighed heavily on him. on the Dollar, and helped EUR/USD to progress slightly.
However, the movements remained limited, on the one hand, because the Fed took care not to really surprise on any point, but also because the program of this Thursday will be even more loaded. than the one from the day before.
Indeed, traders positioned on the Euro Dollar will have to face up to the ECB meeting, as well as at the an advanced estimate of US Q2 GDP, and orders for US durable goods, not to mention unemployment claims.
>> Find the results in real time of all the important events for the Euro Dollar on the Investing.com economic calendar
The day could therefore prove to be particularly lively ;e for EUR/USD and forex in general.
Technical thresholds at monitor on EUR/USD
From a graphical point of view, it will be noted that the general trend of the EUR/USD remains positive. Yesterday’s advance and Thursday’s continued upside, a move that took hold of the 1.10 area, seems to confirm that the previous correction is over.
However, the threshold of 1.11 is currently showing as an immediate obstacle. Higher, it’s the psychological threshold of 1.12 then the annual high at 1.1275 which could be targeted. Finally, in the event of a return of the decline, Monday's low at 1.1020 and the major psychological threshold of 1.10 form the first support at this level. take into account.
The EUR/USD climbs following the Fed, watch out for an ultra busy schedule this Thursday