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EURUSD edges higher, all eyes on the Fed meeting
EURUSD is hovering below the 1.0720-1.0727 area as market participants are preparing for today’s significant Fed meeting. Its outcome and the overall tone of the accompanying press conference could determine the next leg in EURUSD. The bears are still in control since the July 17, 2023 trendline remains intact, supported also by the RSI trading below its 50-midpoint for a considerable amount of time. However, the bulls are ready to jump the gun if they get the appropriate signal from the remaining momentum indicators. More specifically, the stochastic oscillator is trading in its oversold territory and hovering ... (full story)