EURUSD forecasts this week by followed by Fed interest rates decision

The traders focus this week is for one event only - The Fed interest rates decision. It is widely expecting Fed to hike the interest rates for first time since 2006. The event is expecting for Wednesday at 7:00 PM GMT. It is expecting very strong volatile market at 7 PM. Currently the interest rates are at 0.25% as is expecting to rise to 0.375% or 0.50%. After the Fed decision 30-minutes later starts the pressconference that will be followed by the trades very carefully. The other key events this week are CPI at 1:30 PM GMT on Tuesday, Non-monetary policy's ECB meeting on Wednesday at 8 AM GMT, also CPI for Euro Zone on Wednesday at 10:00 AM GMT. trading strategy by the last week shows that we expected levels of 1.1090. Currently the top level was at 1.1042 as is possible correction upward to our target by the last week. If the Fed hike is minimal the dollar may continue to lose against the euro up to 1.13 and above while strong Fed interest rates hike may support the dollar for levels of 1.07.

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