FOMC statement with hawkish remarks are driving the USD higher while stocks has seen a new reversal down. At the same time, this means that market can stay in risk-off and more dollars gains ahead especially now when metals also turned south.
EURUSD is coming to the downside on 4h chart, now even accelerating after hawkish FED yesterday, so it appears that more weakness is in play now for a fifth wave drop below 1.1185. This can then be final leg of wave C) when looking at higher degree waves.
EUR/USD 4h Elliott Wave analysis
