Euro rallies almost 1% as dollar falls across the board

The Euro was up nearly 1% on Thursday, driven by weaker dollar as global concerns about trade war started to fade and markets expect Fed’s likely rate hike next week to have negative impact on the greenback.
Persisting concerns about the escalation of trade war kept the dollar inflated, preventing stronger losses, but bears got unleashed after mild action of big rivals disappointed markets.
In addition, Fed is expected to hike rates next week, likely by 25 basis points, with markets focusing on projections for the next year (Fed expects three hikes in 2019), but this seems to be inadequate to offer more significant support to the greenback.
The negative reaction on Fed’s action could be also explained by other main central banks coming closer to start tightening policies, which could narrow divergence between central banks and increase pressure on dollar.
The EURUSD is on track for strong bullish daily close above broken initial pivot at 1.1733 (28 Aug former high), with break and close above 1.1780 pivot (Fibo 38.2% of 1.2555/1.1300 descend) expected to generate stronger bullish signal for acceleration towards targets at 1.1848 (14 June high) and 1.1928/45 (Fibo 50% of 1.2555/1.1300 / 200SMA) in extension.

Res: 1.1780; 1.1800; 1.1848; 1.1928
Sup: 1.1750; 1.1733; 1.1700; 1.1664