From TradingView · · 50s
EURUSD Bears Control Ahead of FOMC
EURUSD bears hold strong as FOMC meeting looms.
In brief
EURUSD bears hold strong as FOMC meeting looms. EURUSD faces downside pressure ahead of Fed rate decision with 93% chance of 25 bps hike. Originally reported by TradingView.
Market Focus
EURUSD faces downside pressure as the market focuses on today’s FOMC meeting.
Rate Hike Probability
Reuters reports the market is pricing in around a 93% probability of a 25 bps rate hike.
Fed Funds Target
taking the fed funds target range to 3.75%, 4.00% with us treasury yields supported.
ECB Rate Decision
the ecu raised interest rates by 25 bps to 2.50% last week but the eur remained under pressure.
Sell Zones
sell zone: 1.1610, 1.1617 strong resistance on h1 timeframe with confluence on previous accumulation/breakdown area.
Near-term Sell Zone
near-term sell zone: 1.1567, 1.1574 currently positioned above market price with support from ema confluence.
The one thing
EURUSD faces downside pressure ahead of Fed rate decision with 93% chance of 25 bps hike.
