Today promises to be tense. Most likely, until the evening of publications from American market will consolidate, however, continue to bestow traders with increased volatility. At 15:30 we expect data on quarterly GDP of States, which projected below the previous value at the level of 1%, then the FOMC Statement at 21:00, and target federal funds rate.
As expected yesterday, the pair continued to rise and almost reached their goals, gleaning just 12 points. If the Fed did not hint of willingness to soon raise interest rates, the European currency continued to strengthen against the US dollar and that it will pave the way to the next resistance level of 1.1160.
However, I'm counting on a script pair movement: to the Fed comments is possible slight increase to the resistance level of 1.1050, and then turn and follow a gradual decline toward support levels 1.0700; 1,0600; 1,0500.
As expected yesterday, the pair continued to rise and almost reached their goals, gleaning just 12 points. If the Fed did not hint of willingness to soon raise interest rates, the European currency continued to strengthen against the US dollar and that it will pave the way to the next resistance level of 1.1160.
However, I'm counting on a script pair movement: to the Fed comments is possible slight increase to the resistance level of 1.1050, and then turn and follow a gradual decline toward support levels 1.0700; 1,0600; 1,0500.
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