Current trend
Yesterday the EUR/USD pair showed choppy trade and slightly fell on the day.
Today investors are focused on the US Fed Interest Rate Decision. Markets do not expect any changes in interest rates. In addition, the regulator will release its forecasts on economic growth, unemployment, inflation and its further plans regarding monetary policy.
At the same time, few of experts forecast an increase in interest rates during this meeting as some of the Fed officials earlier supported such step. However, the probability of this remains low.
Support and resistance
On the daily chart, the pair continues falling along the descending channel.
MACD histogram is about to enter the negative zone. Stochastic lines are in the oversold zone and directed down.
Support levels: 1.1120, 1.1050, 1.0980.
Resistance levels: 1.1180, 1.1230, 1.1300.
Trading tips
Long positions can be opened from the level of 1.1180 with targets at 1.1230, 1.1300 and stop-loss at 1.1150.
Short positions can be opened from the level of 1.1120 with the target at 1.1050 and stop-loss at 1.1150.
Yesterday the EUR/USD pair showed choppy trade and slightly fell on the day.
Today investors are focused on the US Fed Interest Rate Decision. Markets do not expect any changes in interest rates. In addition, the regulator will release its forecasts on economic growth, unemployment, inflation and its further plans regarding monetary policy.
At the same time, few of experts forecast an increase in interest rates during this meeting as some of the Fed officials earlier supported such step. However, the probability of this remains low.
Support and resistance
On the daily chart, the pair continues falling along the descending channel.
MACD histogram is about to enter the negative zone. Stochastic lines are in the oversold zone and directed down.
Support levels: 1.1120, 1.1050, 1.0980.
Resistance levels: 1.1180, 1.1230, 1.1300.
Trading tips
Long positions can be opened from the level of 1.1180 with targets at 1.1230, 1.1300 and stop-loss at 1.1150.
Short positions can be opened from the level of 1.1120 with the target at 1.1050 and stop-loss at 1.1150.