A suggestion for the pair assumed lateral movement with the support of 1.0955 and the Pivot Point 1.1000. It was also anticipated, that this trend would eventually changed by the US Federal Reserve interest rate decision and relevant comments on Wednesday night. The miracle has not happened, to the disappointment of investors, the interest rate remained unchanged at 0.5%, the rhetoric remained uncertain, bringing the dollar fell against the euro by about 200 points.
What to expect from the next week?
H1 and 90% of the indicators on H4 and D1 are inclined to believe, that the pair will continue to grow and will try to gain a foothold in the zone 1.1250-1.1300. From the other side, the pair is now at the upper boundary of the corridor 1.0955-1.1190, bouncing from which it could start its movement to the south. At the same time, we must remember, that on Friday, August 5th, we'll see the data on NFP - the most important indicator for the state of the US economy, which usually lead to a spike in the dollar. According to some forecasts, the NFP this month could fall from 287k to 175k. So, if these forecasts come true, by the end of the week we'll see pretty good movements of EUR/USD upwards.
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