EUR/USD Awaits the Fed Announcement
While it seems likely that interest rates will remain unchanged, the upcoming Fed announcement is expected to provide some momentum to the price action.
Earlier this week, we observed the price breaking below last week’s swing low, which might be interpreted as a shift from a bullish to a bearish trend.
However, the downward break remains within a normal range (161%), suggesting that it could still be part of wave C of a correction. This means the price could potentially resume its bullish trend.
What can we conclude from this?
Continue to take well-calculated positions,
always use stop losses,
and avoid risking your capital based on the assumption that the price will definitely go up or down.
Nothing is certain in price movements.
Good luck!
Earlier this week, we observed the price breaking below last week’s swing low, which might be interpreted as a shift from a bullish to a bearish trend.
However, the downward break remains within a normal range (161%), suggesting that it could still be part of wave C of a correction. This means the price could potentially resume its bullish trend.
What can we conclude from this?
Continue to take well-calculated positions,
always use stop losses,
and avoid risking your capital based on the assumption that the price will definitely go up or down.
Nothing is certain in price movements.
Good luck!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.