Forex

EUR/USD Price Action Remains Choppy Ahead of FOMC

Christopher Svorcik Analyst

June 17, 2015

EUR/USD

4 hour

Today’s price action could be centered on the FOMC statement. A bearish break would require a change in the wave count.

1 hour

The EUR/USD is very choppy (WXY patterns) and remains stuck in the wedge between support (green) and resistance (red).

GBP/USD

4 hour

The GBP/USD closed with another bullish day yesterday after retesting the support trend line (blue) during the GBP news event. Today’s price action could be centered on the FOMC statement.

1 hour

The GBP/USD remains firmly set in the uptrend channel but so far has not able to break above the resistance trend line (orange).

USD/JPY

4 hour

The USD/JPY is going sideways in a narrow channel. Today’s price action could be centered on the FOMC statement.

1 hour

The USD/JPY remains corrective and is showing multiple WXY patterns.

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