FOMC statement with hawkish remarks is driving the USD higher while stocks have seen a new reversal down.
At the same time, this means that the market can remain in a risk-off mode, and more dollars gains lie ahead, especially now when precious metals also turned south.
EUR/USD is coming down on the 4h chart and accelerating after hawkish Fed quotes yesterday.
It appears that more weakness is in play now for a fifth wave drop below 1.1185. This can then be final leg of wave C) when looking at higher degree waves.
