Re Federal Reserve Meeting June 28-29

I expect fireworks next week if the Federal Reserve further raises interest rates. Being new to the forex can anyone advise me on what to expect? I am assuming that the EUR/USD will be down (due to dollar up) and the DXY0 dollar index will be up.

In the past when (and how) does the F.R. make the announcement and how fast does the EUR/USD respond?

Any advice will be appreciated. This is my first time time with the forex and a F.R. announcement.

The dollar already moved in anticipation of the rate increase...It moved against almost all currencies....Don't be surprised if you see the dollar falling after the FOMC meeting....Only expect fireworks if the Feds raised the rates a 50 basis points (Which is highly unlikely), or if they never made an increase, because this is so unexpeced by the market...


Thanks,

Nader

how will the market react if the increase is as priced I.e 25 bp ? will be very volatile movements or just regular rise/fall in usd

I also have a question. The market seems to be ranging and emotionless and I guess in anticipation of the Feds announcement Thursday. I know Vegas at some point said they don't open new positions before news announcements and probably meant in the hours before the announcement, but with this Major announcement, should one take the position of standing aside this week until after Thursday - kinda wait and see?

depends on your risk appetite. the market nicely follows techs before the a major annoucement. (before= 1 week). I personally do not open any positions a day or two before a major annoucement