So Fed Chair Jerome Powell said it was ‘not time’ to talk about tapering asset purchases, and the Euro shot up through resistance at 1.2110 topping 1.2150 with USD softness set to continue, however, momentum as measured by the RSI oscillator is almost entering overbought territory, signaling a pullback is likely, but on the longer-term, the target for the EURUSD is the next resistance level at 1.2240.
Support: 1.2110 / 1.2070
Resistance: 1.2150 / 1.2240
Risk Warning: 79% of retail CFD accounts lose money
This analysis is just part of a greater daily market report on 8+ of the hottest instruments and assets provided to all SquaredFinancial clients.