FX market did not move much yesterday after FOMC statement and rate decision. Price structure is basically unchanged, corrective legs that suggest stronger USD soon. We see a three leg retracement on EURUSD, AUDUSD, NZDUSD, and USDCAD, while European stocks remain in uptrend as we see DAX in minor wave four.
EURUSD made a nice rally in the last few days, back to 1.1670 area in three sub-waves so we see that as wave four within ongoing weakens that is expected to continue towards 1.1550 or even lower while we are below 1.1730 region.
EURUSD, 1H
