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EURUSD Consolidated Within The Bullish Pennant FOMC Eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As I have already explained in my latest FXstreet article I don't expect a rate change on US cash rate and FOMC could be neutral on future rate hikes that will largely be subject to meeting the inflation objectives of the USFRB. Technically EURUSD is showing a bullish pennant (EMA89, previous double top,WPP, L3) and we can CLEARLY see the consolidation within the pennant that suggests investors are waiting for FOMC decision. After the decision volatility should spike and EURUSD will move.

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