Forex Market Holding its Breath for FOMC Statement

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD 4 hour The EUR/USD will be heavily impacted by the FOMC rate decision and statement later today. A EUR/USD break above resistance (red) invalidates the current wave structure, whereas a break below support (green) could see price continue with its downtrend. 1 hour The EUR/USD is probably in a wave 4 bear flag formation (bottom is geen line) and could head lower at the wave 4 Fibonacci levels. A break above the 50% Fibonacci retracement level and the resistance trend line (red) would

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