With the FOMC coming in the next 20 minutes, let's give a look to the current eurusd market.
The major Trend is still high, however we are in a retrace mode (down wave) from 28 February 2018.
Levels to watch:
1.2445 - A break of this level, would signal the resumption of the uptrend, signaling further strenght ahead.
1.2150 - This level might show a good "Buy Low" opportunity, we will need to further analyze price-action once price gets there, in order to identify the right time to buy.
1.2268 - Current level, kind of in the middle of nowhere.
Technically the market is bearish at the moment (as long as we stay below 1.2445), thus any buy idea might carry some risk.
However, the major trend is still bullish, so we can't rule out a positive FOMC statement (negative for the usd dollar).
Make your bets!
The major Trend is still high, however we are in a retrace mode (down wave) from 28 February 2018.
Levels to watch:
1.2445 - A break of this level, would signal the resumption of the uptrend, signaling further strenght ahead.
1.2150 - This level might show a good "Buy Low" opportunity, we will need to further analyze price-action once price gets there, in order to identify the right time to buy.
1.2268 - Current level, kind of in the middle of nowhere.
Technically the market is bearish at the moment (as long as we stay below 1.2445), thus any buy idea might carry some risk.
However, the major trend is still bullish, so we can't rule out a positive FOMC statement (negative for the usd dollar).
Make your bets!