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Wave Structure Prior to FOMC and US Rate Decision

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD was not able to break above the strong resistance level (red), which therefore has not yet invalidated the potential for a wave 2 and 3 (green). Today’s interest rate decision in the U.S. followed by an FOMC statement will have a potentially large impact on all markets. 1 hour The EUR/USD completed a 5th wave (blue) within an ending diagonal. After that price reverted quickly and the EUR/USD seems to have built a first leg of momentum which could be either a wave 1

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