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EUR/USD Looks Like it is Ending its Downleg-- Just Ahead of the FOMC Decision?




It is interesting to note that EUR/USD pressed to a new low at 1.0462 this morning, but failed to follow-through to the downside, and instead has reversed meaningfully into positive territory, pushing up against 1.0600.

If EUR/USD manages to hurdle 1.0685, then EUR/USD should pop to 1.0850/90.

Spot Gold meanwhile, did not make a new reaction low this morning when EUR/USD made its new low, and instead, appears to be "in the turn" around $1150/53 prior to a thrust towards a run at the high side of the near-term range at $1164/67.

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