$DXY ( Dollar Index ) is sitting on top of its daily 200 line, a support line that will decide whether USD will resume its strength or start a deeper correction move. Thursday's Fed's announcement should determine the fate of the USD for the near future and it will probably determine whether $EURUSD will manage to break out of 1.14 or not.
In this week's newsletters, I tried to look at potential targets for $EURUSD breakout and from the weekly chart we see that 1.18-12 is a weekly structure zone that may be where $EURUSD will head to in case of a breakout.
Another potential target, longer term target, is the 1.24 zone (see weekly chart).
Now that $EURUSD closed above the 200 line again, the critical shifts from 1.1 to 1.12.
I've marked two possible trading scenarios that I intend to monitor during Fed's week. Both of them , one includes a small pullback towards 1.12,
The potential target zone is 1.18 and the completion of the
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