$EURUSD Trend line broken after #FOMC. Bearish Trend Continues.
Technicals :
Broke two hour and daily trend line - Triggered by FOMC minutes(Strong catalyst) .
Correction seems to be over for USD and EUR weakness looks to continue.
Fundamentals :
- ECB started QE on March 9th and they are going to buy 60B per month until September 2016
- Fed got rid of "patient" from the FOMC statement on March 18.
- Fed officials want to see more data before tightening
- When Fed start to tighten will not be on a set course
- Weak US employment report caused a sell off.
- Dudley says Fed not taking 'huge' signal from March jobs report
- Euro zone data is mixed. Mostly poor.
- FOMC meeting minutes perceived hawkish by the market.
- “Several participants judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting.
Broke two hour and daily trend line - Triggered by FOMC minutes(Strong catalyst) .
Correction seems to be over for USD and EUR weakness looks to continue.
Fundamentals :
- ECB started QE on March 9th and they are going to buy 60B per month until September 2016
- Fed got rid of "patient" from the FOMC statement on March 18.
- Fed officials want to see more data before tightening
- When Fed start to tighten will not be on a set course
- Weak US employment report caused a sell off.
- Dudley says Fed not taking 'huge' signal from March jobs report
- Euro zone data is mixed. Mostly poor.
- FOMC meeting minutes perceived hawkish by the market.
- “Several participants judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting.
