EUR/UEUR/USD daily forecast for today before FOMC decision /Jan 30th 2013

EUR/USD daily forecast for today before FOMC decision /Jan 30th 2013




We notice on the weekly chart that EUR/USD prices have formed the Inverted Head and Shoulders pattern, and this confirms that it would rise further towards the 1.35 and the 1.3525 levels.
This is expected to happen before the release of FOMC Statement, then it would retreat to the 1.3404-1.3386 area, and this is what we notice through the ADX trend indicator, which reflects the strength of the bullish trend on the short term trading , and the weaknesses of this trend on the average term trading.

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