Forex Strategy Video: EURUSD Stands Ready for FOMC Decision
• The high-water market for the FOMC decision is whether it can stir volatility
• This Fed meeting will update the Taper, forecasts and forward guidance
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USDollar has been forced a terminal wedge and EURUSD refuses to reverse from its perch just below 1.4000. These are high-tension technical patterns well suited for a FOMC rate decision catalyst. This is an important rate decision for a number of reasons. Beyond the expected update on the central bank's Taper pace, the Fed will also provide an updated forecast for growth, inflation and rates; Chair Janet Yellen will deliver her first policy press conference since taking charge; and the market will find clarification on forward guidance. This is a perfect mixture of technicals and fundamentals but can it provide a breakout - much less a trend? We discuss this import event along with its impact on the dollar and risk trends in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.