The EUR/USD hourly chart is suggesting for two possible scenarios ahead of FOMC tonight. A bearish Fed, might put in play a “Triangle formation” on the EUR/USD, and a break above previous high of $1.2091 might open the door for a rally to $1.2334. However, if the FED signal for a chance of a rate hike by year end might trigger a “Head and Shoulder” pattern which would possibly send the pair down to $1.1585 on a break of a neckline at 1.1850.
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