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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Economy news and Forex 2019 0514
cf. [EUR] Non-Farm and Euro 2019 0503
Federal Reserve hold FOMC and release the benchmark interest rate, Federal Funds Rate on Wednesday. Market participants expect the benchmark rate will be kept below 2.5 percent and it seems the rate to be frozen. The market is interested when the rate is fallen and it is expected to be fallen next month.
ECB President Mario Draghi hinted the Quantitative Easing on Tuesday and euro plunged above fifty pips.
U.S. dollar and euro are under the pressure of depreciation respectively, now. And currency pair of eur/usd, showing value of euro rises a little but it moves up and down in narrow channel since Tuesday awaiting the release of FOMC statement and benchmark interest rate.
In daily chart, euro tried to break through upper band of Bollinger Bands and 120 exponential Moving Average simultaneously , but it failed and retreated from the resistance line.
It is recommended that watch economy news and plutonomic news carefully than analyzing the chart technically. Because the price is determined by political economy.
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