The FOMC decision, particularly the dot plot and Powell’s press conference, will be the major market mover across all currencies. A hawkish Fed could strengthen USD and put pressure on gold. Dovish hints from the Fed could lead to a weaker USD and support for gold. Look for trading opportunities based on price action around support and resistance levels, and confirmation signals like MACD.

EUR/USD:

• Technically oversold, with potential for a rebound above 1.0835.
• Key resistance at 1.0864.
• FOMC decision and Powell’s comments will be the main drivers.
• Buy opportunity if EUR consolidates above 1.0864.

GBP/USD:

• Under pressure due to lower UK inflation data.
• Support at 1.2666 and 1.2636.
• FOMC decision will be crucial.
• Buy opportunity on a false breakout near support levels if Powell hints at rate cuts.

USD/JPY:

• Likely to continue rising if Fed maintains a tough stance.
• Buy opportunity above 151.86 with a target of 152.85.
• Sell opportunity on a dovish Fed stance and a break below 151.34.

USD/CAD:

• Strengthening due to lower Canadian inflation.
• Resistance at 1.3570.
• FOMC decision and dot plot will be key events.
• Focus on whether BoC hints at rate cuts in upcoming meetings.

Gold (XAU/USD):

• Trading within a symmetrical triangle pattern.
• Potential breakout in either direction after FOMC decision.
• Buy above 2,158 or sell below 2,145 for short-term trades.
• Downside risk if Fed dot plot reduces rate cut projections.