Traders are definitely preparing in case the Fed announces a rate hike on March 16. That was the reason why EUR/USD fell by 70 points on Friday, but from a purely technical point of view, it is difficult to determine how confidently investors will buy dollar in advance, or whether the correction ended on March 8-9 or not. If the correction is over, then the pair may hit 1.0825 before Wednesday and head towards 1.0636/70. If not, it will stay at 1.0825-1.1060 until the Fed meeting.
In the four-hour chart, the pair is under the balance and MACD lines, with the Marlin oscillator at the negative area. This indicates the end of the correction and a potential dip after a decline below 1.0825.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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