EURUSD - FOMC announcing their economic forecast- SELL

FX:EURUSD   Euro / U.S. Dollar
• Investors are focused on the Fed to see whether the central bank will affirm its commitment to “patient” monetary policy and for clues about the likely path of U.S. borrowing costs.
• We have numerous announcements coming from the FED tomorrow morning at 5am (AEDT), we are expecting interest rates to be kept on hold, however the ‘Dot Plot’ could give indication on future rate hikes.
• Any indication of a possible interest rate hike in the near future could strengthen the USD.
• Looking at the EUR – The EB have cut their growth forecasts for 2019 and pushed back any potential interest rate hike to 2020. Therefore we have a fairly ‘Dovish’ ECB and a more ‘Hawkish’ FED.
• Two central banks with different views on their local economy.

The EURUSD is capped in a negative trend since Feb 2018.
SELL position with stop losses above 1.1400

First take profit level of 1.1270.
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