Sasha Singh
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EURUSD : Trading Sideways Ahead of a Big Move

(EURUSD : 4 Hour Chart)

EURUSD is currently moving sideways between the resistance at 1.3579 and support at 1.3518. However the bias is towards the downside and the pair will most probable break the key support. 50 day SMA also seems like acting resistance for the pair now. However the pair also reverse the downtrend by breaking the falling resistance trend line. We might see high volatility tomorrow ahead and after the Fed economic projections or statement. Dovish Fed comments are going to push the pair upwards whereas Hawkish Fed comments are going to pull the pair downward.