Elliott Wave setups ahead Of Fed rate decisions [Video]

EUR/USD grinds higher to re-attempt the 1.1650 level in the European session on Wednesday. Markets turn cautious and dump the US Dollar ahead of the US Federal Reserve interest rate decision later on Wednesday, where a 25 bps rate cut is almost fully priced in. Meanwhile, cautious ECB-speak underpins the Euro. 

GBP/USD trades on a firmer note above 1.3300 European session. The Greenback edges lower against the Pound Sterling as the US Federal Reserve is widely expected to announce another interest rate cut on Wednesday. Next of note will be the UK monthly Gross Domestic Product (GDP) report that will be published on Friday. 

Gold extends its sideways consolidative price move through the early European session and trades just below the weekly high touched earlier this Wednesday. Traders now seem reluctant and opt to wait for the outcome of a two-day FOMC policy meeting later today. The key focus will be on updated economic projections and Powell's speech

Dogecoin holds steady on Wednesday after a nearly 4% rise on Tuesday. Derivatives data indicate a surge in bullish bets and retail interest as the broader cryptocurrency market recovers on hopes that the US Federal Reserve will reduce interest rates by 25 basis points.

The global and European economies have been resilient in recent years even accounting for the modest global slowdown of 2025. But risks for the recovery are rising, underscoring a negative medium-run global macro and credit outlook.

Zcash (ZEC) price extends gains, trading above $440 on Wednesday after rallying nearly 30% so far this week. ZEC’s rising open interest, elevated bullish bets, and a shift to positive funding rates all point to stronger demand.