Expected Wave Movements USD after FOMC

EUR/USD

4 hour

The EUR/USD bounced at the bottom of the triangle yesterday and even managed to slightly break above resistance (dotted red) due to the bullish impact of the FOMC statement.

1 hour

The EUR/USD is probably heading towards the Fibonacci targets.

GBP/USD

4 hour

The FOMC statement had a bullish impact on the GBP/USD and the uptrend has accelerated to new highs. The burst of momentum most likely points to the development of a wave 3 (magenta) within the wave 5 of C (blue).

1 hour

Prior to the FOMC event the GBP/USD broke the resistance trend line (dotted orange) and expanded the uptrend channel. The FOMC itself caused price to push higher, which in fact was a bounce at the former resistance.

USD/JPY

4 hour

During the FOMC event the USD/JPY turned back down. The reversal occurred exactly at the 61.8% Fibonacci retracement level of wave X (blue).

1 hour

The USD/JPY could now be completing the wave Y (blue).

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Please note that the update is posted with permission from Admiral Markets
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