Two days ago, the Federal Reserve cut the interest rates for USD by 25bp.
It is the first time in over a decade that the Fed cut the interest rates.
Usually, when interest rates cuts, the USD get lowered and the stock markets rise up.
But, this time, the USD keeps get strong and rise up and the stock market dropped down.
That behavior indicates that the markets confused about the next steps of the Fed.
As the USD gets strong, the EUR/USD fall down.
In the W1 time frame, we can see that the EUR/USD slides to two year low.
Still in the W1 chart, we can see also the next fresh demand at the bottom which is also the long term destination for now.
In the H1 chart, there is a fresh supply above which created just after the announcement of the rates cut.
This fresh supply is a great continuation level to sell EUR/USD.
If the price touch this supply we can sell there at the first touch.
The target for this position will be the demand below on the W1 chart.
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