Here is an interesting point- The bird has failed in last three sessions to close below 1.1088 (50% of 1.0463-1.1714).
Similar move is being witnessed as of now… By no means this is a buy signal, especially since I feel Fed would surprise with a hawkish stance and possibly with a rate hike!
Still, if prices rise following FOMC rate decision and sitting above 1.1088, then it would be a buy signal. The bird could fly to 1.1236 in that case.
Bullish invalidation is seen only below 200-DMA level of 1.1045