US Dollar Trend-Line Bounce Vulnerable Ahead of FOMC

US Dollar Talking Points:

Today at 2PM ET brings the Federal Reserve’s November rate decision, and expectations for any moves at this meeting are incredibly low. As has become usual around such meetings, the focus will be on the details of the statement, parsing the verbiage to look for clues of the bank’s tolerance to forward-looking policy. With expectations for a December hike currently hovering at over 80%, the focus will likely shift towards 2019 as there’s considerable variance in expectations there.

– Yesterday’s trend-line test in the Dollar held support, and prices soon moved back above the 96.00 level; but bulls appear to be losing some motivation and given the change in behavior in USD price action around mid-term elections, a very valid questions exists around whether the Dollar will continue selling-off as one major risk has left the horizon.

– DailyFX Forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2018/11/08/us-dollar-price-vulnerable-chart-support-bounce-fomc-outlook-forecast-srepstans.html