Reason for Buying EUR/USD :
A great technical movements are happening now on EUR/USD.
After FED increases interest rate from 0.75% to 1.00%, the USD becomes too weaker.
The Result for FED interest rate decision came in positive, But the market simply went into an opposite direction.
The Reason for Opposite movement :
The Federal Reserve on Wednesday, raised interest rates by 0.25% to a target range of 0.75% to 1% but kept its previous forecast of three rate increases this year unchanged, which disappointed investors, who expected four rate hikes in 2017.
The dollar continued its move lower in the mid-afternoon session, after a mixed batch of economic data failed to halt the slide, as the USD slumped to a low level.
Trump government still needs to earn a good name and confidence among the investors to move the US market according to the Fundamental expectations.
Technically EUR/USD needs to move up. This time the Technical Wins over the Fundamental.
NOTE : According to Forex market, Technical Strategy wins 70% of the time, But Fundamental Strategy wins Only 30% of the time. Stick with most winning strategies to make Consistent profits in the forex market.
We believe Technicals more than fundamentals, so, we have given EUR/USD Buy signal.
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