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Euro Battling Key Resistance Once Again

The U.S Federal Reserve will release its FOMC Statement later today. Speculators are battling important resistance with the Euro and showing signs of strength.

Euro Recovery Points to New Reality

A new reality is emerging for the Euro as it recovered lost ground suddenly on Tuesday, and remains near its highs this morning, around 1.2460 against the U.S Dollar.

EUR/USD 1H Chart
EUR/USD 1H Chart

The combination of better E.U economic reports and a European Central Bank which appears ready to tinker with its monetary policy in the mid-term are helping the Euro sustain its values. Support looks to be around 1.23 for the Euro, but in the meantime, the Euro is battling key resistance once again against the U.S Dollar.

Trump Didn’t Mention U.S Dollar

The U.S Federal Reserve will release its interest rate policy and a statement later today, but in a telling sign ‘perhaps’, President Trump did not speak about the U.S Dollar last night during his State of the Union address.

EUR/USD 4H Chart
EUR/USD 4H Chart

And after saying there is a trade imbalance with the European Union this past weekend, an assumption can be made the current White House Administration may not be disheartened if the U.S Dollar loses additional value.

In the short term and mid-term we believe the Euro may be positive. Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.