EUR/USD consolidates gains above 1.0800, awaits Fed Minutes
From a technical point of view, EUR/USD’s daily chart shows its closing in the green for a fifth consecutive day. The same chart shows it trades above converging 20 and 100 Simple Moving Averages (SMAs) in the 1.0790 price zone, while it retreated from around a flat 200 SMA, currently around 1.0825. Technical indicators, in the meantime, maintain their upward slopes just below their midlines, suggesting bulls are willing to push EUR/USD further up.
EUR/USD is holding gains above 1.0800 early Wednesday, having hit two-week highs on Tuesday. The US Dollar remains broadly weak, despite a mixed market mood, as investors weigh Fed rate cut bets and US government shutdown risks ahead of the Fed Minutes.
From a technical point of view, EUR/USD’s daily chart shows its closing in the green for a fifth consecutive day. The same chart shows it trades above converging 20 and 100 Simple Moving Averages (SMAs) in the 1.0790 price zone, while it retreated from around a flat 200 SMA, currently around 1.0825. Technical indicators, in the meantime, maintain their upward slopes just below their midlines, suggesting bulls are willing to push EUR/USD further up.
EUR/USD is holding gains above 1.0800 early Wednesday, having hit two-week highs on Tuesday. The US Dollar remains broadly weak, despite a mixed market mood, as investors weigh Fed rate cut bets and US government shutdown risks ahead of the Fed Minutes.
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My Channel Link
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Check My Performance
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.