Today is the FED Interest rate decision. This is the most important event right now. Based on that we will see certain moves in the market. That's why we will wait for it in order to see in what direction we want to trade.
The question is not if there will be change in the interest rate - there won't be! The question is when is that expected to happen in the future. The comments following the news are even more important and they will definitely cause some big moves.
Right now, no one knows what will happen, what will be said and how it will affect the market. That's why in moments like this the market is quiet. We prefer to stay away from trades before the news but to spend more time analysing.
If you don't want to be exposed to too much risk, then I suggest you wait.
Those are the key levels that we will be watching out for.
We now have a higher low and a higher high. This is a sign for an additional upside move. In such a case the level that we will be looking for is 1,1880.
Looking to the downside the first support is at 1,1777.
Price closing outside any of those levels will give us a clear picture of what to expect, but we will be commenting on that tomorrow.