EUR/USD trades in narrow range ahead of FED,good to buy at dips
EUR/USD is trading in narrow range between 1.1200 and 1.1330 for the past two trading session ahead of Fed FOMC meeting.
The Federal reserve has maintained its Fed fund rate at 0% for the past six year s to improve growth and to bring down unemployment rate.
The Fed is expected to give neutral statement and to revise down the GDP forecast for 2015 as the recovery in the US is not robust as anticipated by most market participants.
Technically EUR/USD is facing resistance around 1.1330 and nay break above would extend gains till 1.1380/1.1450 in short term.
On the downside minor support is around 1.1178 and break below will drag the pair further down till 1.110/1.1050.
It is good to buy at dips around 1.1230 with SL around 1.1178 for the TP of 1.1330/1.1380.
The Federal reserve has maintained its Fed fund rate at 0% for the past six year s to improve growth and to bring down unemployment rate.
The Fed is expected to give neutral statement and to revise down the GDP forecast for 2015 as the recovery in the US is not robust as anticipated by most market participants.
Technically EUR/USD is facing resistance around 1.1330 and nay break above would extend gains till 1.1380/1.1450 in short term.
On the downside minor support is around 1.1178 and break below will drag the pair further down till 1.110/1.1050.
It is good to buy at dips around 1.1230 with SL around 1.1178 for the TP of 1.1330/1.1380.
