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19 Mar 2014
Flash: EUR/USD looks to FOMC for direction – FXStreet
FXStreet (Barcelona) - Analyst Valeria Bednarik at FXStreet considers today’s FOMC gathering as key regarding the next move of the EUR/USD.
Key Quotes
"Boringly steady, the EUR/USD holds around the 1.3900 level for third day in a row, trading in a tighter range this Wednesday as market waits for upcoming FED meeting".
"The US Central Bank is largely expected to maintain its course and trim another $10B from its facility programs, which the market has largely priced in, so what’s with current inaction on the pair? The key will be Janet Yellen, new head of the bank, as investors will be looking for any possible change in economic policies for the upcoming months".
"The roof of the triangle in the short term stands around 1.3930, immediate resistance to break to confirm an advance towards 1.3966, this year high".
Key Quotes
"Boringly steady, the EUR/USD holds around the 1.3900 level for third day in a row, trading in a tighter range this Wednesday as market waits for upcoming FED meeting".
"The US Central Bank is largely expected to maintain its course and trim another $10B from its facility programs, which the market has largely priced in, so what’s with current inaction on the pair? The key will be Janet Yellen, new head of the bank, as investors will be looking for any possible change in economic policies for the upcoming months".
"The roof of the triangle in the short term stands around 1.3930, immediate resistance to break to confirm an advance towards 1.3966, this year high".