Daniel Urdaneta

EURUSD thoughts - may 19th 2015 - 50/50 based on FOMC

FX:EURUSD   Euro / U.S. Dollar
Tomorrow the capital markets are gonna get a pleasing vol boost on the back of FOMC day. Although there are no surprises expected on this meeting (the most hawkish forecasters still got June as the day of the first rate hike), cues on the liftoff date and the "dot plot" ( FFR             projections) will move markets big time in either direction. I will bet on the long EUR side, given that RSI is flashing oversold, and based on the realization that EUR is sitting at the 100-day MA, while DXY             is below the same psychological level and doesn't seem to be able to rally past it.

Good luck and don't forget your stops!
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