After the Fed decision to leave the interest rates unchanged the traders widely sell dollars. The Fed is not ready to cut the interest rates while the traders expecting Fed to hint for rate cut in the coming months. The main factors that will affect to the further Fed decisions are the US inflation and US economic growth.

In the coming days we expect to see the euro/dollar trading at high levels close to 1.35. It seems that nothing will stop the dollar except the key resistance that form at 1.3485. We recommend opening long EUR/USD positions with target 1.3485.