On Wednesday, USD index fell for three consecutive trading days, and Euro took the opportunity to rise and closed at 1.1842. On the early Thursday market, EURUSD continued to rise and is currently trading at around 1.1851. The Fed’s monetary policy decided to stand still, and the statement remained optimistic but did not set a timetable for reducing debt purchases. Fed Chairman Powell released a dovish statement after the meeting, which prompted a weaker Dollar and a higher Euro.
Technical and fundamentals are aligned. The daily candle is closed bullish with a long lower shadow, there is a strong support from below. H4 graph shows that the upper Bollinger band is pointing upwards which is a bullish sign, MACD is above 0 axis and formed Golden Cross, if EURUSD managed to stabilise above 1.1850, then it is a bullish sign. Overall prioritize buying at low prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1850.
Resistance：1.1880-1.1910-1.1930
Support：1.1850-1.1825-1.1800
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