The small steps method doesn’t disappoint currency bulls. First, they broke above the short-term resistance line, then we saw the breakout above the mid-February high. Will their good streak continue or maybe their opponents are lurking just around the corner?

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Disappointment - this is the only word, which describes currency bulls’ “action” during yesterday’s session. Despite favorable circumstances from previous days, they allowed their opponents to create a new 2018 low. Is there still a chance to stop the bears on their road to the south?

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Although the Federal Reserve raised interest rates yesterday, the forecast for two more hikes this year (instead of three) disappointed market participants who turned their backs on the U.S. dollar, triggering quite sharp selloff. But did anything really change in the technical picture of the greenback?

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Reversal pattern, verification of the earlier breakdown, invalidation of the breakout and all these events in the shadow of the highlight of the month - the Federal Reserve's monthly policy decision that we’ll get to know later in the day. Stronger euro – weaker greenback or vice-versa?

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Although the beginning of the month was cruel for currency bulls as USD/JPY extended losses and slipped to a fresh 2018 low, the buyers didn’t lose their cold blood and managed to trigger rebounds. Looking closely at them, we noticed something that could reverse their sad fate in the coming days.

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