EUR/USD after FED’s decision to stay on hold
The buyers are on the run after FED’s stay on hold and dovish Yellen yesterday. They have reached 1.1250 for now where the buyers have stoped today. As I see it, this trend line is the main technical reason for that, as I don’t see anything else here. Take a look at the EUR/USD move inside the channel and H4 spikes and fails. That’s why I see the next clear resistance at 1.1285, after and if the buyers can break this trend line and return the price inside the channel. Even there is a clear sign from the FED that they will not hike at least until December, I don’t see the Euro strong as it should be. There is too many mess around this level in which the pair is holding for a very long time. The buyers are in control, but if the sellers decide to take over here, 1.1200 is the first support on the way back.