EUR/USD Price Analysis: Gearing up for the Fed at 1.08 resistance, supported eyed at 1.0770 Fed DollarIndex
Bulls need to stay committed between 1.0700/50.is meeting supply at the 1.08 resistance ahead of the Federal Reserve interest rate decision at 1400ET/1800 GMT. Implied Fed futures are erring towards pricing in a 25 bp rate hike.is due to publish new economic projections and the market will be focussing on whether the dot plots are pricing in an easing of policy. ´´In our view, there is the risk that the market will not see the dovish hike that has been predicted today.
In the meanwhile, we have a W-formation in play. This is a reversion pattern and the bears are already moving in. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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