EUR/USD - FOMC Meeting

Today we have one for the swing traders on a Daily chart with EUR/USD.

Tonight we have the FOMC meeting which has the two possible outcomes, no increase which would result in a rally upwards breaking resistance or an increased rate followed by possibly a new lower low.

Straight away you can see price has been stuck in consolidation since the beginning of 2015. We are now trading below a very important pivot resistance and above our 200 EMA, the news tonight will determine our future short-term market positions!

If you have any additional analysis on the shorter time frames please feel free to share it below.