EURUSD
The pair is trading within the 1.1165-1.1275 range, while the market is waiting for the results of the Fed. meeting. Investors are not willing to risk and open large volume trades prior to the Fed. meeting on the monetary policy. The market has no doubts that the interest rate will be elevated, but what interests the market at this point — are the further actions on the tightening of the monetary policy.
The price is higher than the middle Bollinger band, higher than SMA5 and SMA 14. RSI resides under the 50% level and rising. Stoch are turning upwards, leaving the oversold zone. MACD is also going up.
Trading recommendations:
We assume that the pair remains inside the 1.1165-1.1275 until the Fed. meeting takes place. If the bank signals the elevation of the interest rate one more time this year, it will put the pair under pressure and it can fall to 1.1075, leaving the range.