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EUR/USD: review and forecast

FX:EURUSD   Euro Fx/U.S. Dollar
64 0 1
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.
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