EUR/USD today: the dollar is pending a decision by the US Federal Reserve - Ester Holdings
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EUR/USD today: the dollar is pending a decision by the US Federal Reserve

Trades on Tuesday opened with a noticeable decline of the pair EUR/USD due to the correction of positions on the American before the publication of the decision of the US Federal Reserve. At the beginning of the day, backward correction of the American was seen due to the low liquidity of the Asian session, but the market remains very restrained, despite data on the UK.

Events for today:

  • 13:00 – the index of industrial orders (CBI) in the UK.
  • 14:30 – the current account of the US balance of payments.
  • 16:00 – sales in the secondary housing market in the US.
  • 16:30 – the US oil reserves
  • 20:00 – the results of the meeting of the US Federal Reserve: the economic forecasts of the FOMC, the statement of the US Federal Open Market Committee and the decision on the interest rate of the US Federal Reserve.
  • 20:30 – a press conference of the US Federal Open Market Committee.

The main events of the day will be the publication of the FRS protocol and Powell’s press conference, from which one should expect the growth of volatility.

Before the release of data by the US Federal Reserve, one should expect the formation of a flat on the EUR/USD pair and the market as a whole. The zone of fluctuations while waiting news has settled from 1.2260-30 to 1.2300-20. At the same time, the market expects higher rates in the US, which will support the American. But the further dynamics of the US dollar will depend on the Fed’s rhetoric. More detailed expectations from the Fed will be published later. Significant support levels: 1.2230, 1.2200-80 and 1.2160-30, resistance: 1.2320, 1.2350-60 and 1.2400-20.

Fig. EUR/USD. The current price is 1.2280.

Hanzenko Anton

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