EUR/USD And Gold Ahead Of Fed Meeting
Gregor Horvat | Jan 26, 2022 06:15AM ET
USD is moving slightly lower today, ahead of the important FOMC press conference. Stocks slowed down ahead of the event, but it might be just a temporary intraday rally before the market hits resistance, especially if the Fed will stick with the current hawkish 'tone'.
EUR/USD moved south yesterday, but then it found a base as stocks found some buyers. As such, corrective rally can still be coming here on the EUR/USD, ideally higher into wave c back to 1.1360/70 resistance.h2 EUR/USD 4h Elliott Wave analysis
Gold came higher yesterday, ideally into the fifth wave of an ending diagonal which is now already facing some limited upside at 1850 area. We see a risk for a sharp reversal, especially if metal would also break and close below 1834 today.
h2 Gold 4h Elliott Wave analysis/h2 h2
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