EUR/USD today: the dollar is waiting for the Fed meeting
From the beginning of the day, the EUR/USD pair has been trading in different directions, maintaining a restraining-downward trend on the overall recovery of the American. This is due to the technical correction and waiting for the results of the US Federal Reserve meeting. Under current conditions, the trading range on Tuesday, from 1.1360 to 1.1330, is an area of uncertainty.
Events for today:
- 16:30 – data on the US oil inventories will be published
- 20:00 – the US Federal Reserve meeting results will be published: FOMC economic forecasts, FOMC statement, the decision on the Fed interest rate.
- 20:30 – FOMC press conference will be held.
The main event of the day remains the US Federal Reserve meeting, which the market expects. Also it is worth noting the possible increase in volatility due to Brexit data.
Due to the fact that the Fed is expecting the preservation of soft rhetoric, the EUR/USD pair will keep restrained upward dynamic. The main movement is expected after the publication of the results and the Fed press conference. The main dynamics of the pair remains ascending, limited to resistance: 1.1380 and 1.1420. Support is located at levels: 1.1300 and 1.1270.
Read also: “Types of trading in financial markets by the criterion of the duration of the transaction. Basics”
Hanzenko Anton
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