Market’s attention is directed on to the Federal Reserve System’s decision

A two-day FOMC meeting on monetary policy will take place and with regard to this, the US currency once again will become a leader. On Wednesday, late in the evening, will be published the decision on basic rates of the US Federal Reserve.
On the first day of the five-day trading, the “American” has weakened against the majors, which explains the decrease of interest towards the US currency before the FOMC meeting. Meanwhile, analysts of Fort Financial Services note, that investors’ attention is directed to the Federal Reserve System’s meeting hoping to hear the terms of increase of interest rates.
Last week Friday, the Fed announced the forecasts which will indicate the possible pace of interest increase in the current year.
The decrease of the US dollar against the majors continued. The encouraging data of the States, indicating the level of orders for durable goods could not support the “American”. The interest towards the US currency on the eve of the Federal Reserve System statement’s publication is lowered.
However, comparing to the European and Japanese currencies, the “bucks” rose right before the start of the main event of the week- meeting of the Federal Reserve System of USA.
It should be reminded that Janet Yellen has earlier mentioned the possibility of interest rates increase in September 2015. The Fed chief said that for this to develop is necessary to obtain a confirmation of the economic improvement of the country at a certain pace.  Possibly, during the Fed meeting, the causes of interest rates’ increase in September will be discussed.
Analysts of FortFS note the growth of expectations for tighter rhetoric on the monetary policy from the regulator’s representatives after the Fed meeting. In this case, dollar’s position will strengthen. However, the tool EUR/USD, last week, did not reflect the possible perspective. By the end of the trading week the ratio between the European and the US currencies was 1.0985. As from Monday, the euro rose to 1.1089. On Tuesday though, the financial tool dropped to the level of 1.1022.
The market is agitated and expects some responsibility from the representatives of Fed. It is expected that the raise of interest rates will be postponed if agitation does not pass. In this case scenario investors will revise their expectations of tightening in September, which will immediately affect the US dollar. The most suitable partner for the “American” is considered the European currency. Most probably, EUR/USD will show an increase in the short run perspective due to favorable conditions due to a large number of sell positions on the currency and severe signs of a beneficial cooperation between Greeks and Troika.  It must be admitted that the difference in the monetary policy of Fed and the ECB will contributed the resumption of the monetary instrument drop.
How events will affect the rate of EUR / USD will be reflected on the website.
MACD is in the positive zone and below its signal line. The price and the histogram move synchronically. The indicator points to the possibility of opening long positions.
Stochastic oscillator is located just above the oversold zone. % K line is below the% D. The indicator points to the possibility of opening short positions.
Resistance levels: 1.1070, 1.1120
Current price: 1.1050
Trading recommendations:
Price drop is demarcated by support at 1.1020. Breaking it through, the pair will continue to decrease until the level of 1.0900. Rates growth is constrained by resistance at 1.1070, the breaking through of which will cause the pair to rush to the target level of 1.1120 and higher to 1.1200.