News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:
  • Gold recovered from a steep sell-off this morning to finish the day just lightly lower $XAU $USD
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.25% 🇳🇿NZD: -0.55% 🇦🇺AUD: -0.64% 🇨🇦CAD: -0.75% View the performance of all markets via
EUR/USD Threatens Trendline Resistance Before FOMC- Breakout on Tap?

EUR/USD Threatens Trendline Resistance Before FOMC- Breakout on Tap?

David Song, Gregory Marks,

- Federal Open Market Committee (FOMC) to Reduce QE by Another $10B.

- FOMC Meeting Minutes Due Out on May 21.

Trading the News: Federal Open Market Committee Meeting

Another $10B reduction in the Federal Open Market Committee’s (FOMC) asset-purchase program may have a limited impact in propping up the greenback, and it seems as though we would need a material shift in the policy outlook to see a bullish U.S. dollar reaction as the central bank continues to highlight the ongoing slack in the real economy.

What’s Expected:


Why Is This Event Important:

Indeed, the dollar may struggle to hold its ground should Fed Chair Janet Yellen continue to highlight a dovish tone for monetary policy, and the bearish sentiment surrounding the reserve currency may gather pace throughout the first-half of the year as the central bank remains reluctant to move away from its zero-interest rate policy.

Expectations: Bullish Argument/Scenario




Durable Goods Orders (MAR)



Consumer Price Index ex Food and Energy (YoY) (MAR)



Advance Retail Sales (MoM) (MAR)



A growing number of Fed officials may show a greater willingness to normalize monetary policy sooner rather than later amid sticky inflation paired with the resilience in private sector consumption, and the dollar may show a bullish reaction to the FOMC meeting should the central bank adopt a more hawkish tone for monetary policy.

Risk: Bearish Argument/Scenario




Change in Non-Farm Payrolls (MAR)



ISM Non-Manufacturing (MAR)



ISM Manufacturing (MAR)



However, the bar remains high to see a material shift in the policy outlook as the central bank continues to identify the persistent slack in the real economy, and the dollar may face additional headwinds over the near-term as the Fed talks down interest rate expectations.

How To Trade This Event Risk(Video)

To Cover the Market Reaction to the FOMC Meeting, Join DailyFX on Demand

BullishUSD Trade: FOMC Cuts Another $10B & Shows Greater Willingness to Normalize

  • Need red, five-minute candle following the release to consider a short EURUSD trade
  • If market reaction favors a long dollar trade, short EURUSD with two separate position
  • Place stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit

Bearish USD Trade: Fed Continues to Highlight Dovish Tone for Monetary Policy

  • Need green, five-minute candle to favor a long EURUSD trade
  • Implement same setup as the bullish dollar trade, just in opposite direction

Potential Price Targets For The Rate Decision


EUR/USD Threatens Trendline Resistance Before FOMC- Breakout on Tap?

Chart - Created Using FXCM Marketscope 2.0

  • Price & RSI Threatening Trendline Resistance; Higher High on Tap?
  • Interim Resistance: 1.3960-70 (61.8% expansion)
  • Interim Support: 1.3800 (100.0% expansion) to 1.3830 (61.8% retracement)

Impact that the FOMC Interest Rate Decision has had on EUR/USD during the last release


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)

MAR 2014

03/19/2014 18:00 GMT





March 2014 Federal Open Market Committee Interest Rate Decision


As expected, the Federal Reserve reduced its asset purchase program by $10B in March leaving the total monthly purchase total to $55B per month. As has been stated by one FOMC member after another, excluding any major financial disruption it is likely that we will continue to see a $10B taper per month with the QE3 program coming to an end by the end of the fourth 2014 quarter. Following the rate decision and release of updated forecasts we saw broad based USD strength with the EURUSD pair falling 100 pips within the hour.

--- Written by David Song, Currency Analyst and Gregory Marks

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.