Investors will not rush to open positions before the Federal Reserve meeting, the results of which will be announced tomorrow at night. In my opinion, before Jerome Powell’s press conference, a sideways trend awaits us, after which the euro will be able to show an increase in quotations.

The head of the Federal Reserve will point out again that the labor market is still very far from the pre-coronavirus level and it is too early to think about phasing out incentives. Futures on the Fed rate indicates a probability of only 9% that the interest rate may be raised by a quarter of a percent at the December meeting of the monetary regulator. Therefore, today and tomorrow we can expect a flat, and on Thursday the euro will grow.

Trading recommendation: flat 1.2065-1.2155