EURUSD H4 ChartEURUSD H1 Chart
Technical Analysis: Price has entered the sell zone, reached the top, came down and exited.
Price is also resisted by a key falling trendline and together with key support level 1.1130, a descending triangle is formed and the price is falling from the top.
In H1 chart, there are 2 waves of appreciation/retracement where the price ends up in the selling zone.
Market Sentiment: Though the Fed did not raise the rate in September, the market has already shifted its focus on December hike. The Fed, as usual, will be monitoring the labour market closely for their rate decision. The dollar is, therefore, uncertain but is not inclined towards bearish or bullish. As for the euro, nothing new to ease monetary policy or cut rate was announced so far. The market is likely to be more sensitive to price levels now.