US Greenback Forecast: EUR/USD, USD/SEK, USD/NOK Eye FOMC Minutes

Swedish Krona, Norwegian Krone, US Greenback, Euro, FOMC Minutes – TALKING POINTS

US Greenback volatility forward of the discharge of the FOMC assembly minutesUSD/SEK, USD/NOK might endure, pairs might find yourself testing key helpEUR/USD flirting with resistance: will FOMC catalyze follow-through?

Learn to use politicaldanger evaluation in your buying and selling technique!

EUR/USD Technical Evaluation

Because the November 14 swing low at 1.0989, EUR/USD has recovered nearly one p.c and is now testing acquainted resistance at 1.1073. Merchants could also be reluctant to commit capital till after the worth barrier is damaged with follow-through. The publication of the FOMC assembly minutes stands out as the elementary catalyst the pair must propel itself past this hurdle.

EUR/USD – Each day Chart

Chart showing EUR/USD

EUR/USD chart created utilizing TradingView

Conversely, a scarcity of significant upside dedication might deter EUR/USD bulls and will see the pair shut decrease, opening the door to testing help at 1.1022. Nonetheless, even when the pair is ready to break above 1.1073 with affirmation, does the longer-term outlook help a bullish bias for EUR/USD?

The quick reply is: it doesn’t seem so. Zooming out to a month-to-month perspective reveals the pair has been on a gradual downtrend for over a decade. The slope of the pair’s descent turned significantly sharp in 2018. Whereas it’s attainable EUR/USD might be able to break above Might 2018 resistance, the pair would nonetheless need to clear the 10-year descending zone earlier than merchants believed a tectonic shift had occurred in its trajectory.

EUR/USD – Month-to-month Chart

Chart showing EUR/USD

EUR/USD chart created utilizing TradingView

USD/SEK Worth Chart

USD/SEK remained little-changed on the finish of Tuesday’s session, probably reflecting merchants’ reluctance to commit capital till the FOMC minutes had been printed. The pair is at the moment caught within the Zone 1 congestive vary (see chart beneath) after failing to clear above the higher sure of the 9.6878-9.7228 resistance space. The pair might goal to check 9.5323 if the FOMC minutes catalyze a US Greenback selloff.

USD/SEK – Each day Chart

Chart showing USD/SEK

USD/SEK chart created utilizing TradingView

USD/NOK Outlook

Since late-September, USD/NOK has broadly traded sideways however the pair might try to interrupt beneath the 9.0526-9.0713 help vary which opens the door to testing key help at 9.0030. A break beneath the latter may catalyze a major selloff if merchants imagine it marks a short-term shift within the pair’s general trajectory. Nonetheless, an aggressive decline could also be stalled if merchants encounter friction at one other crucial flooring at eight.9179.

USD/NOK – Each day Chart

Chart showing USD/NOK

USD/NOK chart created utilizing TradingView


— Written by Dimitri Zabelin, Jr Forex Analyst for

To contact Dimitri, use the feedback part beneath or @ZabelinDimitrion Twitter

Clickbank Promo Tools
Wiadforex is a big online financial news, technical, fundamental analysis, trade ideas, option and educational site with a focus on Nigeria, Africa and world in general. This is an independent online forex platform. That is publish by Wiad Consultancy Services

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Clickbank Products