Photo: EURUSD: Intraday Outlook
Yesterday, on June 19th, the FOMC, the Fed’s major body, decided to continue the QE program aimed at stimulating the national economy. The plan includes low interest rates and bond purchases ($85bn a month).
The meeting was followed by Ben Bernanke’s speech. The Chief didn’t hint when the Fed curtails its QE plan because it depends on the conditions in the US labor market.
Forex
The chart below, courtesy of the SRP Department of Masterforex-V Academy, reflects the current state of affairs in the market of EURUSD. The currency pair finally started an H4 retracement from the rally after the announcement. Because of a strong move, indicators cannot reflect the real state of affairs properly. Still, during the European trading session we may expect a recovery against the recent downswing.
Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
