FX.co ★ Kool | EUR/USD

EURUSD 5-Minutes Analysis: The euro dropped below the price level of 1.14034 on Wednesday; it is currently trading marginally above that level, and further declines are probably in store. However, given the volatility of FOMC news conferences and statements, we should proceed with care. Another factor influencing risk appetite is the Federal Reserve meeting on Wednesday. The Federal Reserve has announced that interest rates will rise in the coming weeks. Despite the recent trend toward hawkish policy, the upcoming hikes could affect investor excitement for equity markets. Investors are not sufficiently worried by earnings season disappointments, despite the Fed tightening and geopolitical worries. This mindset persists even with the Fed pulling its purse strings. While US central banks intend to swiftly raise interest rates and reduce assistance, the European Central Bank is ready to move if inflation persists. They are concerned about incentives being cut too soon. I think that in the near future, the EUR/USD will hit 1.14584 because of the ongoing severe news - related constraints. Regarding the technical picture of the EUR/USD, nothing has changed from what we saw earlier this year. Despite the psychological support - level of 1.14034, there is still minimal bearish pressure on the market. There is instability in the current market climate. Two significant support - levels are 1.14334 and 1.14034. The EUR/USD pair will remain negative as long as it is below the resistance - levels of 1.14434 and 1.13934. If not, there won't be any more chances for it to grow in the future.