EUR/USD Falling Wedge into FOMCEuro / U.S. DollarFOREXCOM:EURUSDFOREXcomUSD strength remains in place ahead of tomorrow's rate decision and at this point, there's wide expectation for a hawkish Fed as we trade deeper in the second half of the year. The last Fed meeting in June was a quarterly rate decision, coming with updated guidance and projections, and that helped to spur a rally in the US dollar that drove a breakdown in EUR/USD. But - a week later significant waypoints were set that, so far, have not given way. In DXY that high is right at the Fibonacci level of 101.80 in DXY. In EUR/USD, it's 1.1325 and despite a seemingly open door for bears to make a push to re-test that level after last week's ECB meeting, so far they have failed to do so. As we go into tomorrow's Fed meeting the pair is working on a falling wedge formation, which suggests pullback potential in the broader bearish trend. The big question for EUR/USD is whether any counter-trend moves can take out the psychological level at 1.1500, which is a price that carries a degree of historical importance in the pair. - js