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.
Our 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.
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.
Our 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.
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