The Euro: Waiting for the FOMC

As expected, the euro has been practically dormant since the beginning of the week.

The euro is capped under 1.1660.  The trading range today is even narrower.  It is not surprising though because the traders are waiting for the outcome from the U.S.  FOMC meeting due in about 45 minutes from now.

I would assume the traders are expecting the hawkish statements from the Fed this afternoon.

Tomorrow, we have the British rate decision.  On Friday, we have the most widely anticipated U.S. job data.

Currently, the euro is still holding above 1.16.

I am not sure whether today’s FOMC outcome will trigger any action in my MT4 EA.  Since the EA only triggers buy orders, I would assume if the FOMC outcome is so out of ordinary and utterly unexpected such as that Yellen becomes very dovish and sends the euro to the moon.

The strategy can be found here.

The latest result can be found here.

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