Home Forex News Euro Will Continue To Scale Higher Vs Dollar

Euro Will Continue To Scale Higher Vs Dollar

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Latest FOMC policy’s outcome is supportive for global equities:

FOMC made no significant changes to monetary policy as widely expected, holding fed fund rate close to zero and pledging to support the economy till necessary and opted not to strengthen its forward guidance.However FOMC announces that it would be extending emergency dollar swap lines with other central bankers until the end of first quarter of 2021 which will boost other developed currencies notably euro. Moreover FOMC’s downside assessment of the US economy outlook implies that rate setters will remain accommodative in the upcoming months as well as scaling-up of asset purchases.

TREND : WEAK BEARISH / SIDEWAYS

Time                                      :           30/07/2020

Pivot                                      :           1.1766

Technical View                     :             LONG ABOVE 1.1786

Target                                   :            1.1806, 1.1829, 1.1858

Technical View                     :             SHORT BELOW 1.1746

Target                                   :            1.1726, 1.1712, 1.1674

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