The major stock indices are whipping around.

  • Dow Industrial Average is down -137 points or -0.37%
  • S&P index is up 12.5 points or 0.32%
  • NASDAQ index is up 95 points or 0.83%

In the Forex market

  • EURUSD: The EURUSD did a spike higher than is currently trading at 1.0951. That takes a price above the swing area on the daily chart between 1.0935 and 1.0943. Getting in staying above that level gives the buyers more control. The high price in January reached 1.09288. That level will also be tied as a support now.
EURUSD
EURUSD is above the swing area on the daily chart
  • GBPUSD: GBPUSD has moved up to test the 100 and 200 hour moving averages at 1.2358 and 1.23617 respectively. The high price just reached 1.23619. The current price is trading at 1.2359.
GBPUSD
GBPUSD moves above the 100/200 hour MA
  • USDJPY: The USDJPY has moved below the swing lows from January 23 and January 26 near 129.012. The low price has reached 128.96. Traders will now be watching the 129.012 area as a potential ceiling. Stay below is more bearish.
USDJPY
USDJPY falls below the floor at 129.01

The importance of these levels can be found in the pre-FOMC video HERE.