 Hi, good morning and welcome to today's products and focus and today's all about the Fed meeting today at 6 p.m UK time where we're going to be getting a statement from giant yelling which may or may not drop the word Patient from the rhetoric in regards to Monetary policy and raising rates in the uiF. So trade is beginning to take a Position that it might be a kind of a half hearted measure as in they might remove the word patients but retain the fact that macro data needs to be in the Correct kind of state before they choose to raise rates We should be more closer to a September rate hike rather than June, which would be one of the earlier Months for this to happen. So we've seen a little bit of volatility yesterday following Moves on the dollar overnight. We're moving up a little bit again today Most global markets a little bit toppy right now And with the UK you've got the the budget as well. So that should be relatively interesting to get a bit of flavor as to What the UK is gonna have coming along for the next couple of the next couple months So I mean moving on to the US 30 you can see there at 17 895 remains the potential resistance We're sandwiched in between two moving averages. You've got the 21 the 55 period moving average in the 21 period moving average Whereas most of the technicals are relatively neutral. So Could be range bound Until we get a break of either either direction just now. So moving on to the UK 100 You can see that you had a last couple of decent sessions. We had a good session yesterday a Failure to break higher already this morning, but it's just all papers are slightly Could also be kept by that 21 period SME. I kind of a similar Similar style to the US 30 where you're sandwiched in between the two moving averages with the 67 71 being potential support and 6906 being potential Resistance so moving on to Japan to do five it's still going from strength to strength Bank of Japan came out yesterday Corruda with a statement saying that they were still going to hold back on some more of the More hardcore stimulus that they need to use it in the future. They they will but they'd rather not right now and that's Causing a little bit of upwards momentum and Japan to do five people taking that as a signal that the Japanese economy is doing That a little bit better And we are almost halfway now between potential support at 18648 and potential resistance of 2868 And still still going strong as dollar yen still it's unable to break through 121 80, but it is just getting that little bit closer. So they've been running about 121 40 for the last couple of sessions In fact, if we go ahead and have a look at dollar yen, you can see exactly what I'm talking about It's just flattening out consolidation Consulate consul there to remove 121 87 if the Fed comes out with a particularly bullish statement or hawker statement tonight You might see that breakout. Otherwise, you might see a little bit of a drift as we move that little bit lower So many traders talking about crude all West Texas right now. We broke through potential support at 43 30 We had another break yesterday We are floating around 4250 right now. It's not been that unbelievable strong technical breakout But it is a breakout nonetheless. Yesterday does still look like a, you know, a three or four percent move right there And the next potential support is at 35 30 So crude elementaries are also due today So West Texas will be Invoked today as ever Gold will be waiting for the Fed statement as ever moving down a little bit lower again 1137 is a potential support Longly candles indicative of selling pressure goals. Just can't get a break right now All depends on the language utilising the Fed statement tonight Finishing up the red all on GBP USD. So your dollar has had its third day of gains including today But it's not looking as as aggressive as it was yesterday We could be just be getting a slight retracement before we start or move back down towards one spot Zero two as ever depends what Janet Yellen comes out with today. And if we finish up with GBP USD Another move to the downside last night. So breaking through one spot 48 13 again Longer term potential support is all the way down one spot 42 43 If we do get any sort of retracement up to one spot 40 13 that could be an exclusive to sell if you think that GBP USD is going to get the pressure or if we break above that you could target one spot 51 85 We do have that death cross on the moving averages to bear in mind as well So I come with data wise we talked about we've got the Bank of England minutes It's not supposed to have anything that exciting unemployment claims due as well at 9 30 And then you've got the crude oil inventories due there at 2 30 because of the time difference and the fomc statement at 6 p.m UK time again because of the time difference there and that's the one that everybody's going to be watching today And it's all about the wording of the statement Will they will they drop the word patients or not? And will they tie it into a specific metric of macro data? Coming out of the US or not and that makes a big difference because obviously apart from non-vampirals the rest of the data has been very mixed at best fast forwarding on to thursday you've got employment claim data at 12 30 and then you've got the philly fed And then on friday, you've got german cpi and uk public finances and remember today is the budget in the uk So you should see some interesting moves in cable So keep your eye on the chart form as ever making so it's probably going forward and join me again tomorrow to find out what happened next