EURUSD: Pullback after Double Top; Resistance Confirmed
FOMC meeting passed with little volatility as it came out very much expected which also reaffirms that the Fed will hold back from further rate cut for now.
On the other hand, ECB is comparatively more dovish than the Fed where ECB is ready to go further negative in their interest rate.
EURUSD has formed a double top previously and the price has broken through the neckline.
Retracement has taken place and price has already pulled back to the neckline, 50% of Fibonacci and resistance was confirmed within a supply zone.
EURUSD has ranged through the week likely due to the anticipation of FOMC meeting but now it's probably about time to resume the bearish trend.
On the other hand, ECB is comparatively more dovish than the Fed where ECB is ready to go further negative in their interest rate.
EURUSD has formed a double top previously and the price has broken through the neckline.
Retracement has taken place and price has already pulled back to the neckline, 50% of Fibonacci and resistance was confirmed within a supply zone.
EURUSD has ranged through the week likely due to the anticipation of FOMC meeting but now it's probably about time to resume the bearish trend.
