The general picture: the Fed and North Korea.
On Monday morning, the markets calmed down after a nervous weekend: the launch of a new long-ranged missile by North Korea on Friday towards Japan - put on the agenda the issue of a US military strike against North Korea. With no slim possibility- in this case - of the beginning of a big war in Korea - and potentially the use of nuclear weapons.
However, so far, the crisis has limited itself to new tough statements by the US officials. On Tuesday they expect Trump's big program speech at the UN - undoubtedly, he will demand the isolation of North Korea. For the markets, it is important that the probability of war decreased sharply until Wednesday. North Korea seems to have reduced a little - but everyone understands that leader Kim Jong-Un is even more unpredictable than Trump.
The main event for the markets is the Federal Reserve's announcement on Wednesday evening. This meeting is more important than usual - the Fed will publish the decision at 6:00 pm London Time and also the revised forecast (published every six months) on the US economy - GDP growth, inflation, unemployment, interest rates. Press conference of the head of the Federal Reserve Yellen will be held 30 minutes after the publication.
Moreover- on Thursday / Friday - the news is not very important. But on Sunday, September 24, - the elections in Germany will be held. This is traditionally puts pressure on the euro - before the publication of the results. A gap is possible at the opening next Monday.
EURUSD
Consolidation was formed. Daily limits: 1.1835 - 1.2100.
Boundaries for H4: top 1.2000, bottom 1.1835.
Open positions on the breakthrough of the borders of the scale of H4 - buy from 1.2000, and sell from 1.1835.
