Hi guys, EURUSD broke above the recent price structure (swing high) and formed a fresh higher high on the 4-hour chart. Now, the pair trades at a resistance-turned-support, which could lead to further strength in the pair.
Bear in mind that FOMC meets today at 19:00 GMT. The US dollar is under-performing against most majors ahead of the meeting, as investors expect that Fed will reassure its dovish stance on the US economy. However, trading around important news releases is always risky, so if you decide to take the trade, consider closing it just before the meeting.
Bear in mind that FOMC meets today at 19:00 GMT. The US dollar is under-performing against most majors ahead of the meeting, as investors expect that Fed will reassure its dovish stance on the US economy. However, trading around important news releases is always risky, so if you decide to take the trade, consider closing it just before the meeting.