indexOn the 13th-14th of December we will have the FOMC meeting where they will decide if they will increase rates.
They have delayed this hike for a year now but Yellen confirmed the hike on the next meeting (95% chances). At this point the hike is 70% priced in already but we still have the 30% and the chaos of the moment. At the moment EUR/USD is bouncing from the 1.0550 level like a basketball ball which it makes me think that the USD bulls are looking for an entrance. I hope EUR/USD will retrace to 1.07 where will hit my entry point and then will rally down to 1.048 and give me a 220 pips profit but market is never so simple so I will keep an eye on this pair and come with more updates.
Edit: EUR/USD slide to 1.0795 due to Renzi delayed resignation and Germany indices improvement. Bias didn’t change, just a better entry. This is the monthly pivot point also.
Yours sincerely,