EUR/USD is trading at 1.08681, 0.04% up since previous day close. EUR/USD is moving away from a two-week low set on Tuesday, but caution is advised for bullish trades ahead of the Fed decision. A sustained break below the 1.0835 confluence could lead to deeper losses. Spot prices lack follow-through buying, and traders are hesitant to place aggressive bets. The Federal Reserve’s projection for rate cuts in 2024 could influence the US Dollar price dynamics. As seen in the chart, the pair has a breakout at support level, hence downside momentum is expected.

US100 is trading at 18274.7, 0.02% up since previous day close. Nasdaq experienced little movement in evening deals following a positive session on Wall Street. NVIDIA’s AI chip pricing and shipment details drove gains, but the Fed’s hawkish outlook on interest rates and hotter-than-expected inflation readings weighed on sentiment. The Fed’s statement on monetary policy and post-meeting press conference will be closely watched for interest rate cuts. As seen in the chart, the index has hovering around resistance and if breakout happen, then more upside is expected.

SILVER is trading at 24.86, 0.22% down since previous day close. Silver (XAG/USD) is under selling pressure and retreating from the YTD peak, with dip-buying prospects near mid-$24.00s. Technically, the breakout through the 200-day Simple Moving (SMA) and strength beyond the barrier support bullish traders. Resistance breakpoints protect the downside, while momentum back above the $25.00 psychological mark could face resistance. As seen in the chart, SILVER is hovering around resistance, downside moment is expected if a reversal is happened.