Simple support and resistance chart for the FOMC. I'd like the upside more but the pair looks heavy so more downside cannot be ruled out. Last support would be an ideal area to look for bullish clues to establish longs.
Yes, it could work but it depends where is your stop. The problem is that the second support is very close to 1.0600 and maybe the market spikes below it for a second, just to take out weak longs or smth. So choosing the Stop Loss here is the key.