EUR/USD Signal Update
Yesterday’s signals were never triggered as the price did not reach either 1.3643 or 1.3748.
Today’s EUR/USD Signals
No signals are given today, as there is no high-impact news due for the EUR and the USD news is not sue until after the close of the London session.
EUR/USD Analysis
Yesterday was again very quiet with the price going nowhere. Yesterday’s daily candle does look supportive as we still fail to make a daily close below the soft support at 1.3695, but it does not seem likely that there will be a strong move up in this pair any time soon unless there is a dramatic and unexpected type of FOMC statement this evening after London closes.
It is almost a certainty that neither 1.3643 nor 1.3750 are going to be hit before the FOMC statement is released, but after that release these levels could be used as places to watch for fast reversals after a news spike into them, or alternatively as levels that would need to be broken with momentum to produce a further significant directional run.
During today’s London session the best that could be achieved with this pair would probably be some small scalps. The GMT R1 pivot at 1.3733 would be a natural level at which to seek this short-term resistance, as well as the daily pivot point at 1.3697 as support.
There are no high-impact news releases scheduled today concerning the EUR although there might be some turbulence from GBP-related news at 9:30am London time. The USD-related FOMC statement will be released at 7pm. Therefore it is likely to be a very quiet London session for this pair.