EUR/USD Awaits Key Meeting

Market participants are now anticipating the latest FOMC Meeting that will decide if the rates go up. It's considered by some that this is a "done deal" and the Interest rate will hike with 0.25 basis points. EUR/USD already is rallying as well as US equities. Yesterday the Dow posted a record breaker when it reached 19,956.

With Dow closing in on 20,000 and the US dollar approaching parity with the Euro many experts now say that the FED does not actually have a choice and it's mandatory to raise rates.

The result will be publicly announced at 2pm eastern time as market players are currently on hold with their trading waiting on the decision.

EUR/USD posted minor gains yesterday as it reached 1.0660 and is now trading at 1.0649. It is expected that price will continue trading in the same range until the news release.

Have in mind that volatility may be high and any exposure to markets poses a risk to your capital. Play it safe today and don't act based on emotions.

Chart: EUR/USD D1