The EUR/USD pair fell hard during the session on Wednesday after the Federal Reserve announced that it expect a short-term interest rates to be at roughly 1% by the end of next year. This suggests that interest rates are going to go higher than the market originally anticipated, and this could be the beginning of a move lower in this pair. Remember, just above there was a significant downtrend line from the monthly chart, and now we are approaching a short-term uptrend line that is broken, could signal that the US dollar should continue to gain against the Euro. We will be watching the session, and if we close lower during the session today, we believe that the market starts to drift back down to the 1.35 level.
