The Euro continued its downtrend against the dollar this morning in an exchange market extremely cautious approach to the Fed meeting. The single currency was also difficult to attract traders in the short term, while equity markets approach a phase of top trend. Pending the decision of the Fed (20:15), and more specifically the content of the comments accompanying the decision, traders will look to industrial productivity and wholesale inventories.
Around 11:50, the spot euro / dollar is approximately 1.3160.
From a graphical point of view, the palpable excitement of the approaching end of the Fed meeting results in short-term oscillations erratic, difficult to decipher for the technical analyst. We prefer these conditions deemed risky not to take a position on the Euro Dollar immediately.
Graphique en données horaires :
Daily data chart:
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