Hey Traders 👋
We’ve been leaning hard on Bitcoin lately, but today’s spotlight shifts to EUR/USD, because the Fed meeting is the big event on the calendar.📅
The Euro is trading near 1.1850, caught between support and resistance as traders sit tight ahead of the US central bank’s policy decision.
The setup on the chart:
Support: 1.1830 – the floor buyers are defending.
Resistance: 1.1870 – the ceiling sellers keep rejecting.
Upside target: If 1.1870 breaks, 1.1900 is the next big level.
🔍 Downside watch: Lose 1.1830, and price likely leans on the moving averages below (20, 50, and 100-period MAs).
These act like “dynamic” support, as explained in Chapter 4, Lesson 3.
Why it matters:
The Fed announces its rate decision today at 18:00 GMT. Markets expect a 0.25% rate cut, but the real story is what comes next.
If Powell hints at more easing ahead, that could weigh on the Dollar and give EUR/USD room to rally. If the Fed sounds cautious on inflation, the Dollar may bounce, capping the Euro.
One last note: this is high-impact stuff, it moves all markets, not just FX. If you’re new to Forex, check the lessons inside the app for a deeper dive into how central banks shape currency moves.😉
