I know where I'm getting out before I get in.
USD
EUR/USD
The Shared Currency surged to $1.1344 as the greenback nursed losses amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting.
GBP/USD
The Cable was driven by dollar weakness on Tuesday, rising back above $1.27, as shifts in global risk appetite played a bigger role for sterling than domestic issues such as Brexit.
USD/JPY
The Yen extended gains to 107.35/dlr fearless ahead of the Fed meeting.
The Aussie recovered to $0.6970 from a low of $0.6905 on Tuesday, still suffering remarks from China’s education ministry, telling students to consider whether to study in Australia or leave, amid escalating tensions Beijing and Canberra.
USD/ZAR
South Africa's rand extended gains to 16.59 against the U.S dollar on a strong advance in emerging currencies spurred by global economic recovery hopes.
16:30 - USD - Core CPI (MoM) (May)
18:30 - USD - Crude Oil Inventories
22:00 - USD - Fed Interest Rate Decision
22:00 - USD - FOMC Statement
22:00 - USD - FOMC Press Conference
- From an Elliott Wave standpoint, USDCHF could potentially unfold into compelling impulsive Wave C of the zigzag correction of Wave (2) to a narrowing region 0.9550 (50% retracement of Wave (1)) to 0.9395 (100% projection of Wave A through B) in the near term trend, from the downside bias from April 6th high of 0.9797.
- Price could immediately start to shoot back up into Wave (3) on a longer perspective.
- Piercing above the resistance 0.9905 would endorse the structure.
- Alternatively, broader bearish invalidation of Elliott Wave Structure rest at 0.9191 of March 9th low while Relative Strength Index signals a bullish recoil higher for the pair.
