After the long waiting, the FED is almost here; while is just the beginning of the expected reports, and maybe market will end up disappointed with today’s market action, there is a chance a FOMC announcement triggers some strong spikes across the board, more if the central bank comes with an extension of their facilities program. But things today, will be more about levels than anything else: watch for a break above 1.2330/40 static resistance area, triggering a bullish run towards 1.2390 past Friday high, while if above this last, 1.2420 seems next logical target.

On the bearish side, the level to watch is 1.2250 as once below, the pair may gain further bearish speed towards key 1.2210 price zone: if below this last, selling pressure will likely accelerate with 1.2140/70 area then at sight. Good luck today!

View Live Chart for EUR/USD

e