EUR/USD Signal Update
Yesterday’s signals were not triggered and expired.
Today’s EUR/USD Signals
No signal is given today.
EUR/USD Analysis
We had a small move down yesterday, contrary to my expectations, but the entire day’s range was small: barely 50 pips.
Today is likely to be a very quiet day ahead of the FOMC Statement and Projections that are due later during the New York session after London closes. Very little is likely to happen before then and it is fairly certain we will not get anywhere near the resistance at 1.3688 or the support at 1.3487, which is why no signals can be given for today’s London session.
There is a support level not far away from the current price at 1.3586. If you are interested in scalping for just a few pips, this level is likely to hold before the FOMC as resistance, so a short could be taken there. There is also the daily GMT R1 pivot point just a few pips before it, so even a very bearish 5 minute candle pattern around there could give a few pips. Be warned that the action is likely to be very slow. I do not recommend scalping and I do not see a real worthwhile trade until after the FOMC.
The big news due today is the US FOMC Statement, Projections and Press Conference at 7pm London time. This pair is likely to be very quiet until shortly before that time, when volatility will probably increase.