FOMC meeting is a key event of the day. The decision will be announced at at 7:00 PM GMT and post-meeting conference will start at 7:30 PM GMT. No change to the level of interest rates is expected but one should expect elevated volatility. EURUSD and US500 are among top markets to watch.
EURUSD is trading with no clear direction. The nearest resistant to watch can be found at the 1.1115 handle. Breaking above it could pave the way towards 1.1175. On the other hand, the nearest support lies at 1.1040 and a break below may trigger a move towards the 1.10 handle.
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EURUSD H4 interval. Source: xStation5
US500 is trading near the all-time highs. FOMC decision could be a trigger for a move higher. In case the index breaks above the 3155 handle, the upward could extend towards the next resistance marked by the 127.2% Fibonnaci retracement of the last downward correction. Should the market move lower in the aftermath of the decision, key support can be found at 3080 pts handle (lower limit of Overbalance structure).
US500 H4 interval. Source: xStation5
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