Forex Trader

What to expect from FOMC today? More empty talk or specific indication of the possible rate hike? Well, the US dollar bulls are aware of the Euro weakness and this technical picture shows that they are right and placed on the right side, in the EUR/USD short positions. Sure, the market reaction on realease could be on both sides and these are the levels to watch. If the pair bounce up, the sellers could be placed at 1.1350/70 and that level is important for the pair and possible turnover in the coming days. On the other side, you can see which trend line hold the fall today, but if US dollar bulls will be determinated enough, they will try to reach 1.1140/60, the levels near the daily MA’s 100 and 200. It looks like the pair is set for more decline, but be careful during the minutes because everything could happen. The pair is too calm in the last couple of days and we can see a stronger move today.

19:00 h (London time) – FOMC minutes!!!