EURUSD Outlook Heading into the FOMC

== TECHNICAL OUTLOOK ==

Currently trading within a choppy range outlined with the red box. A break below range support (bottom of red box) will expose further downside risk towards the Support Buffer. Later today we have a widely anticipated rate decision from the FOCM. The Fed is expected to maintain interest rates at 0.025%, However, market participants anxiously await the Fed's statement for clues of a potential future rate hike with the most recent inflation figures especially in the housing sector. Any indication of Fed "tapering" or more of a "hawkish" undertone, may add some strength to the greenback and thus push EURUSD lower.

--------------------------------

Please don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)

Trade Safe - Trade Well

Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.

RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.