EUR/USD Sentiment Shifts Bullish Post-FOMC: Targets 1.0600
EUR/USD sentiment turned decisively bullish following the FOMC meeting, with the pair climbing 0.6% to 1.0540 as the Fed delivered its expected 25bp rate cut. Gold surged $25 to $2,675/oz, while silver jumped 2.8% to $31.20/oz, confirming broad USD weakness. The Nasdaq 100 futures gained 1.2%, reflecting risk-on sentiment that typically supports EUR/USD. Market participants are repositioning for a potential test of 1.0600 resistance, with momentum indicators turning positive. The Fed's acknowledgment of cooling inflation pressures contrasts with the ECB's cautious stance, potentially narrowing the policy divergence. Immediate support has formed at 1.0500, with a break above 1.0580 likely triggering additional buying toward the 1.0650 December high. Traders should watch Friday's Eurozone CPI data for confirmation of the bullish shift.
Related Symbols:
EURUSD
XAUUSD
XAGUSD
This is a summary of the original article by investing.com. To read the complete article, please visit the source website:
Read Full Article at investing.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.
