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Old 29-11-2018, 11:39
ObasiFXMart ObasiFXMart is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD Fundamental Analysis: November 29, 2018



Traders reacted as shown on the sharp price reversal of the euro major pair after the dovish rhetorics of the Fed chair Jerome Powell. The rebound was influenced by the decline in the US Treasury yields after the speech of Powell saying interest rates are just lower than the neutral which may translate as the rate hike cycle will almost end.

The chances to postpone the Fed rate hike in 2019 increases sharply which resulted in a decline of the greenback across the market in the core PCE comes out lower than anticipated. In the second half of the day, the marketís attention will be on the release of Fed minutes. On the technical aspect, the euro major pair added a bullish trend outside the candle given the intraday high and price movement on Tuesday. A bullish reversal would confirm if everything turns out positive and needed to close higher than 1.1388. The short-term trades are also seen to be on a bullish trend but traders remain heedful since the price movement today will rely on the data and it isnít new to trades for any unforeseen events.
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