EUR/USD ahead of the Fed's meeting

EUR/USD ahead of the Fed's meeting

Information is not investment advice

Investors are cautious ahead of the Fed’s meeting. Many analysts predict a rate cut before the year-end. However, we know that the American central bank is unpredictable. If Mr. Powell gives any hints on the rate cut, the USD will fall, as a result, EUR/USD will rise. In the case of the hawkish tone of the chairman, the pair will suffer.

Key levels

On the H4, the pair has been trading near the upper boundary of the downward channel (1.1206). A break above it will increase chances for the further rise. However, comments will be in priority.

In the case of the upward movement, targets are at 1.1213, 1.12355 and 1.1258.

In the case of the fall, the pair will move to 1.1187 and 1.1168. A breakthrough these levels will provoke a plunge to 1.1134-1.1127.

EUR/USD ahead of the Fed's meeting Chart 



The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

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