[[EUR/USD-sponsored]]

EUR/USD turned quite bearish during the first quarter of this year, as the USD decline stopped. Other currencies held well during this time, while EUR/USD lost 6.50 cents. Only the JPY declined more than the Euro, with USD.JPY climbing around 7.50 cents higher.

EUR/USD fell from 1.2350s to 1.17 until the end of March, but April turned out to be quite bullish for this pair, after the reversal down there. As a result, EUR/USD climbed above 1.20 two weeks ago and that level turned into support eventually.

EUR/USD Live Rate

On the way down, moving averages were providing resistance, but turned immediately into support as EUR/USD reversed higher and the price moved above them. They have been holding during retreats lower and have pushed EUR/USD higher above 1.21.

Now the price is trading just above the 100 SMA (green) while stochastic is heading higher. This might be a good chance to go long on this pair, but EUR/USD has climbed too fast during this month so a reversal might be on the way soon.

The FED Meeting Today

The FED meeting is scheduled for later today, which might be the catalyst for the USD reversal if they give same hawkish hint, given that the US economy is booming. But, the USD might also turn even more dovish in the FED ignores the data once again and keeps everything as it is. So, today’s meeting will be a bit of a risk factor for USD pairs.