Wednesday 18 March 2015

Waiting For The FOMC Rate Decision




EUR/USD has been in consolidation since Monday after the pair formed a doji candlestick on the four-hour filter chart. Currently it is testing the resistance at 1.0660, but I highly doubt it will be able to break above that resistance before the announcement of the FOMC’s rate decision later today. Personally, I think that even if the announcement causes a move to the upside it will be only temporarily and the pair will eventually continue down on its way to parity, as the bearish trend is not over yet.
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6 comments:

  1. Unknown18 March 2015 at 14:35

    Very useful, thank you.

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  2. Anonymous19 March 2015 at 05:16

    EURUSD had a high volatile session yesterday with a 467 pips range after Fed's monetary policy statement. The Dovish tone coming out from the Fed’s statement triggered a short squeeze pushing the pair to 1.1034 so today should be a digestion day, meaning that the price should stay inside the previous day range.

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  3. Unknown19 March 2015 at 06:49

    What a rally.

    ReplyDelete
  4. Unknown19 March 2015 at 07:45

    Indeed an impressive explosion!

    ReplyDelete
  5. Unknown19 March 2015 at 07:50

    The dollar recovered post-FOMC.

    ReplyDelete
  6. bewayopa19 March 2015 at 19:16

    This could trigger a downward phase for further declines in EURUSD.

    ReplyDelete

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