EUR/USD today: a pair is waiting for the statements of the US Federal Reserve

At Wednesday’s trading, the EUR/USD pair is trading with a slight decrease in the data for the euro area and correction of position before the publication of the US Federal Reserve meeting results. Despite the fact that the Fed is expected to reduce rates from the upcoming meeting, high uncertainty remains around further US monetary policy.

Events for today:

• 15:15 – ADP non-farm employment change (July) USA will be announced.
• 16:45 – PMI will be released in Chicago (July) USA
• 21:00 – FOMC statement and  interest rate decision of the US Federal Reserve will be published.
• 21:30 – FOMC press conference will be held.

The main event of the day and last weeks remains interest rate decision of the US Federal Reserve. Also, the market will closely monitor hints regarding the rate of decline in rates in the future.

The EUR/USD pair maintains a moderately upward trend in anticipation of the US Federal Reserve meeting results.

Despite the significant statistics published today, the main increase in activity should be expected at the publication of the Fed meeting results. We should also note the change in the number of people employed in the non-farm sector from ADP, which will be acutely perceived before the Friday employment report in the United States. Before the Fed’s protocol, the pair and the dollar are expected to move generally in the lateral range. Significant support levels for the EUR/USD pair: 1.1180, 1.1200 and 1.1230, support: 1.1120, 1.1080 and 1.1050.

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Hanzenko Anton

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