The FOMC rate decision will be announced at 2 PM ET. The Fed is to keep rates unchanged at 5.5%. Market focus will be on the statement, the table of central tendencies for growth, inflation, and employment, and the dot plot outlining the committees expectations for the target fed funds rate in 2024 and beyond.
The technicals will play a role as they define the bias (bullish or bearish), risk and targets.
In this video, I not only kickstart your trading day with a look at three the major currency pairs, the EURUSD, USDJPY and GBPUSD, but also set out the roadmap for trading through the FOMC decision.
The price action and technicals will tell the story. Be aware. Be prepared.
This article was written by Greg Michalowski at www.forexlive.com. Source