[EUR] Waiting the Release of Fed Decision 2018 0612

EUR/USD four-hour chart, source:forexfactory.com

As you know, U.S. Federal Reserve System releases benchmark interest rate on late Wednesday in EST or early Thursday in UTC+0900. The market participants expect it is hiked to two percent. The benchmark rate is 1.75 percent now.

The price of currency pair, EUR/USD succeeded to rebound at 1.15s showing V pattern and reached 1.17s. The price moves up and down in narrow band and it seems to accumulate its energy. It draws up rectangular triangle pattern, too. It means surge of the price.

The rise of the price was dues to Europe economy situation, news media reported. The stuff of interest rate of United States is already predicted and reflected in the price, analysts say.

But the moving in the narrow band seems to wait Fed's release.

As Gjallarhorn/Heimdallr recommended before, traders need to check the benchmark rate and the direction of the price.


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