Looks Like We Almost Forgot the FOMC From Yesterday

Dovish reaction on the USD after the FOMC is being almost totally wiped out as we speak. EURUSD is coming back down and Dollar Index is climbing back above the support on the 93.85. In the short-term the positive scenario is more probable here but in the long-term we are still in a bearish flag formation, which promotes a further decline.

Gold climbed higher using the original reaction after the FOMC and a 23,6% Fibonacci support along with the correction equality pattern. The sentiment is positive and we should test the 1300 USD/oz soon.

WTI crude oil went below the up trendline and the 38.2% Fibonacci, which triggers a sell signal here.

DAX failed to break the horizontal resistance on the 12300 and the dynamic resistance created by the upper line of the wedge. Buy signal have to wait a little bit and bulls should be patient because entering now can be a bit too risky.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis