Daily Strategy - On focus FOMC Rate Decision tomorrow
|EURUSD (1.2339)
Trend: Neutral
Support/Resistance: 1.2260 - 1.2415
The biggest event come not today but tomorrow on Wednesday but is widely dominate over the forex market. It is FOMC Rate Decision as is expecting Fed to hike Interest rates with 25 bps. It is expecting the key Interest rates to up to 1.75% from the current 1.50%.
For today is possible temporary recovery of the Dollar. The recovery may continue as the Interest rates in United States rises while ECB Interest rates are at 0.0% and may stay for longer time.
World-Signals.com trading strategy for today is to use the key support at 1.2260. Use this level as Stop and higher level to open long positions with a profit 25-35 pips today.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.