Sforex
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EURUSD ahead FED Meeting: Do strong resistance hold E/U ?

FX:EURUSD   Euro / U.S. Dollar
401 0 2
Ok we come a risk event : FED Meeting with FED rate decision, FED projection, and FED Press Conference.

Most traders,economists, and forecasters believe that:

- FED will hold rate at current level, they will not hike rate in this event, but leave the door to September.

- There will some change in FED Projection dot.

-FED Chairwomen Janet Yellen will have some upbeat tone and lean to neutral hawkish in Press Conference and signal for potential rate hike incoming months.

Indeed, we cannot forecast the future and don't know what will she say. Let wait for the release.

- Technical Analysis .

EURUSD             still hold firmly below key resistance I draw on thart.

If FED doesn't enough catalyst for USD, I think EURUSD             could break the trend line and move higher.

Only a strong comment from FED could drag EUR lower.

I maintain a SHORT position of EURUSD             to 1.08

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