Ultima MarketsMarket analysis: The firm decision to suspend interest rate hikes is based on a dot matrix...

Today's Focus--EUR/USD。

FundamentallyThe Federal Reserve will release its latest interest rate resolution early Thursday morning, and keeping interest rates unchanged is basically a matter of certainty. But due to9In month, the Federal Reserve will also release its latest economic outlook report, with the dot matrix chart being the focus of market attention.

The most controversial issue currently is whether the Federal Reserve will raise interest rates again before the end of this year, as hinted at in its recently released economic forecast summary25Basis points. In addition,2024Will monetary policy change in6The position of the month is to follow a more conservative interest rate path. These all affect the direction of the US dollar index, if the Federal Reserve changes2024The interest rate reduction stance of the year will result in a significant decline in the US dollar index, while the US dollar index will further break through its high point.

Technically speakingOn the daily chart, although the random fluctuation indicators have crossed upwards, the exchange rate has always been5The daily moving average is suppressed, and the market is more likely to form a consolidation range.

(EUR USD daily chart, sourceUltima Markets MT4）

KIn terms of line structure, yesterday's take-up waspinbarTherefore, today's structure is more important. If it breaks through yesterday's high, the market's rebound space will further increase200Near the daily moving average; If we receive the Great Entity Yin todayKThe exchange rate may further decline.

(EUR/USD)4Hour chart, sourceUltima Markets MT4）

4On the hourly chart, the market is touching65Mean Square and33After the resistance region formed by the combination of moving averages, the random oscillation index begins to cross downwards. Structurally, the euro has formed a relatively clear upward flag shaped consolidation zone against the US dollar, with a certain probability of continuing the bearish trend after falling below.

(EUR/USD)1Hourly cycle chart, sourceUltima Markets MT4）

Look again1The hourly chart structure will become clearer, and the entanglement of the three moving averages will begin to compete for control. Due to the fact that the random fluctuation indicator is still in the oversold area, the Asian session may still consolidate. We need to be patient and wait for the price to fall below yesterday's low point and the lower edge of the flag shaped channel, and switch to smaller cycles to search for entry opportunities within the day.

(EUR/USD)1Hourly cycle chart, sourceUltima Markets MT4）

according toUltima Markets MT4InpivotIndicator, daily central price level1.06908，

1.06908Upward bullish, first goal1.07063Second objective1.07334

1.06908Under bearish, first target1.06635Second objective1.06477

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