On Wednesday the single currency was trading elevated against the US dollar, following the highly awaited FOMC decision. The pair opened at 1.1206 and closed 52 pips higher. If the uptrend continues, the pair will move to the first resistance located at 1.1286.
The single currency recorded a slight decrease against the US dollar on Thursday. The session started at 1.1258 and ended 34 pips lower. On downwards first support is located at 1.1100. Resistance is located at 1.1286.
Next week this pair is going to move by the news most of the time. So it's a 50/50 chance of making money, however depending in how you trade the news and how many pips you want to get out of each trade , your % might be better than 50 % or not..of making $$$ have a great week-nd i am done for the week.
Originally Posted by victoriajensen
The pair is clearly bouncing off the trendline, which is what happened this week too. Next week is Brexit, we will likely see some major changes in this chart come 23rd.
On Friday, the dollar fell against the euro, but remained stable at 22-month lows against the yen, as the pessimistic reports in the US, as well as decisions of the Federal Reserve System and the Bank of Japan to leave monetary policy unchanged is still putting pressure on the US currency.