For today we should beware the FOMC meeting tonight, because this time they will want to make a decision about the tapering of their QE from $85 billion to $75 billion; they will reduce QE approximately $10 billion, but we do not know exactly what result to expect. However, we believe the market will move in a range and we will observe a choppy situation until the meeting ends. Suggestion is waiting for the news release and do not open any position before an hour after the results of the meeting; however if you already have a floating position from the previous day, you should tight your risk and your Stop Loss level during this FOMC meeting .
INTRADAY PIVOT LEVEL :
Resistance. 3 : 1.5983.
Midpoint. 5 :1.5971.
Resistance. 2 :1.5960.
Midpoint. 4 :1.5946.
Resistance. 1 :1.5933.
Midpoint. 3 : 1.5922
Pivot Point : 1.5910.
Midpoint. 2 :1.5897.
Support. 1 :1.5883.
Midpoint. 1 : 1.5872.
Support. 2 :1.5860.
Midpoint. 0 : 1.5847.
Support. 3 : 1.5833.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
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