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FOMC leaves rates unchanged as expected; SEPs show Fed to keep rates on hold through 2020

EUR/USD 1.0960s Looks Important

EUR/USD 1.0960s Looks Important

2016-02-23 19:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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EUR/USD 1.0960s Looks Important

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Most of the breakout move that began on 2/3 has been erased. 1.0960s looks big at this point. The level is defined by a trendline and Fibonacci confluence (50% of rally from December and 61.8% of 2016 range). Despite a nearly 400 pip decline, SSI is not indicating a bearish breakout (see real-time SSI here). As long as the channel is holding, look higher.

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