Open trading account 
Fundamental View
We are seeing lot of buying interest at 1.3880 on EURUSD as every dip into this level is being bought heavily. The fundamentals certainly doesn't look favorable to this buying spree because Eurozone CPI number came out as 0.7% which was weaker than expected and Germany ZEW Economic Sentiment fell from 52.8 last month to 46.6 this month, which is the lowest number since September 2013. Perhaps traders are more confident in Eurozone economic growth compare to US economic growth, which has shown sign of slowdown in last couple of months.
The resistance at 1.3950 is holding for now, however tomorrow being FOMC news event we could see massive price movements and looking at last two days price action, I am favoring long scenario into FOMC event, as there is still lot of room towards higher time frame resistance.
We are seeing lot of buying interest at 1.3880 on EURUSD as every dip into this level is being bought heavily. The fundamentals certainly doesn't look favorable to this buying spree because Eurozone CPI number came out as 0.7% which was weaker than expected and Germany ZEW Economic Sentiment fell from 52.8 last month to 46.6 this month, which is the lowest number since September 2013. Perhaps traders are more confident in Eurozone economic growth compare to US economic growth, which has shown sign of slowdown in last couple of months.
The resistance at 1.3950 is holding for now, however tomorrow being FOMC news event we could see massive price movements and looking at last two days price action, I am favoring long scenario into FOMC event, as there is still lot of room towards higher time frame resistance.
