As per our forecast rate hike not taken place but FOMC outcome approaching to hike deadline.
US FOMC interest rate decision (upper limit) of 0.25%, 0.25% is expected, the former value of 0.25%.
US FOMC interest rate decision (lower limit) 0.0%, expected 0.0%, the previous value of 0.0%.
Yellen: Fed may be necessary to hold a special press conference. October is still possible action. This statement changed the USD direction from day’s low against the counter part especially CAD.
In our earlier article, we forecast if delay in hike euro is the biggest beneficiary.
As of now eurusd posted 130 pips gains, still running high breached he 200dema. The near resistance seems at 1.1470 50wsma, might be the near stop. The earlier swing was placed at 1.1467 in the weekly chart. A weekly close above 1.1470 the pair likely to breach the ascending triangle pattern in the weekly chart. We forecast the same in September 15th article. A weekly close above 50 Wsma rounded to 1.1500 the bulls aim at 1.1850.
The ECB’s QE unlikely to pressure the euro. As per the technical the euro looks bullish in daily and weekly as well. We will analyse again if the charts changed the structure.