Market outlook after FOMC minutes !

USA 653
USA 653

looks like FOMC meeting didn’t come up with critical changes this time , most likely market will remain the same as it was before FOMC , let’s take a quick look major and minor pairs :

EURUSD : Outlook in EURUSD remains on the upside as long as 1.2442 holds on a daily closing basis , resistance comes at the 1.2544 , stability above this level on a daily closing basis will advance the pair further higher towards the 1.2638 levels , a break will open 1.2770 levels.but in return , stability below the 1.2544 levels on a daily closing basis could mean a return to the 1.2442 levels , a cut will open 1.2300 levels .

GBPUSD: As long as resistance 1.5719 holds on a daily closing basis , outlook remains on the downside towards the 1.5592 levels even lower , a daily closing above the 1.5719 levels will put the pair in recovery mode for retesting the 1.2775/1.2823 levels before the next fall , further upside will aim the 1.5941 levels..

USDJPY: support at 117.00 levels , stability above this level will push the pair further higher towards the 120.00 levels ahead of the 121.50 levels, but in return , a daily closing back below 117.00 levels will bring a corrective pullback towards the 115.44 levels before the next move !!

USDCHF : As long as resistance 0.9688 holds on a daily closing basis , further weakness is in sight towards the 0.9441 levels ahead of the 09360 levels , above the 0.9688 levels will restore the upside momentum towards the 0.9741/0.9840 levels.

AUDUSD: sideways within 0.8761 : 0.8540 levels …..below 0.8540 will open 0.8440/0.8315 levels , above 0.8761 will aim the 0.8950/0.9111 levels.

USDCAD : Is neutral with possible chance to rise , stability above the 1.1323 levels will build pressure on the 1.1466 levels , below 1.1323 could mean a return to the 1.2224 levels..

AUDUSD : is neutral with bullish bias , stability above the 0.7840 levels will build pressure on the 0.7927/0.8033 levels , below 0.7840 will open 0.7659 levels….

Conclusion : as you see, we have mixed market , FOMC meeting didn’t make any critical changes to the market , but It suggests small strength to the USD , so the USD may  rise slowly the upcoming days…..

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