On Tuesday, Euro continued to rise, and USD stabilized after hitting a two-week low. Fed Chairman Powell’s speech was interpreted as a dovish. The European Central Bank said that when deciding on the pace of emergency bond purchases next week, policymakers should consider that financing conditions in the Eurozone have become more favorable, suggesting that a slowdown in purchases may be imminent. The European Central Bank has been buying bonds at an average rate of 80 billion Euros per month. Under its 1.85 trillion Euros emergency plan, about 0.5 trillion Euros are available.
From a technical point of view, Euro’s daily candle is closed with a Doji pattern and there is a higher chance that it will continue to increase. MA continues to strengthen. H4 graph shows that EURUSD continue to strengthen and manage to stabilise at 1.1800, the indicators were bullish across the board. 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 1.1800.
Resistance：1.1830-1.1850-1.1880
Support：1.1700-1.1775-1.1750
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