EURUSD pair soared to trade at 1.1255 as the US FED kept the rate unchanged at 0.50% and the Yellen kept the sentiment same that the 2016 rate hike is likely. Initially, the EURUSD bounced higher in initial trading but dragged back towards the end of the session around 1.1200.
Fundamentally. the Fed wants to see further confirmation of growth before it increases its interest rate, and that could mean added long pause in the tightening cycle after the worse than foreseen economic indicators of the earlier weeks.
Further, US Unemployment Claims released better than expected to give US Dollar a breather against its peers.

Today on Friday, the investors are recommended to monitor the following events:

EUR

French Flash Manufacturing PMI
French Flash Services PMI
German Flash Manufacturing PMI
German Flash Services PMI
Flash Manufacturing PMI
Flash Services PMI

USD

Flash Manufacturing PMI

Technical Overview:

EURUSD is heading lower today and we are likely to see moving average crossover. It consolidating around 1.1198, just below a major resistance level at 1.1225. Preceding that interval, the further resistance level is found at 1.1250 &1.136, while a support is found at 1.1185, at 1.1025 and near 1.09.

Daily Trading Range:
1.1325 – 1.1025

Daily Support & Resistance Levels

R3: 1.1383
R2: 1.1282
R1: 1.1215
Pivot Point: 1.1182
S1: 1.1115
S2: 1.1081
S3: 1.0981
Trading Recommendation:
– Sell Stop @ 1.1220
o Take Profit:
 1st @ 1. 1150
o Stop Loss 1.1250

EURUSD Chart

One thought on “EURUSD Daily Market Updates (23rd Sep, 2016)”

  1. Butch Charles says:

    Thanks for Sharing

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