EUR/USD forex analysis: Declines back to 1.0118 monthly support [Video]

Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the EURUSD daily and 4 hour charts.

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EURUSD daily chart on ACY MT4

Ahead of the FOMC statement price has declined back to the 1.0118 monthly support level.

EURUSD 4-hour chart on ACY MT4

Watching to see if price rallies back to the 1.0340 monthly resistance level after the data release for an opportunity to sell in line with the longer term downtrend.