The Federal Reserve meeting is coming up, and severe volatility is inevitable—do you want to take a flight?

At 2:00 a.m. on Thursday, the release of the Fed interest rate decision data, along with the monetary policy meeting to be held at 2:30 a.m. by Wash (Powell), will be the most important pieces of information we’re paying close attention to right now.

This time, the highlight should be Wash (Powell)—it will be his first public address. If this meeting were chaired by the old boss, there would be nothing to watch: no rate hikes and no rate cuts, and the market would still just trade in a range. Now that the person in charge has changed, this meeting definitely won’t be nothing more than a routine update. As for what Wash (Powell) will say, we have no way of knowing yet.

Over the past two days, the choppy downside move can be seen as releasing room ahead of time. Since the big jump earlier this week, it has continued to operate within a range. Although there has been some pullback, the weakness isn’t strong. With no clear signals for rate hikes or cuts, the range trading is likely to continue. The turning point will depend on whether this meeting can seize an opportunity to decisively break through key support or resistance.

In terms of structure, this upward move hasn’t finished yet. It lacks the kind of breakthrough momentum. On the daily chart, the recent consecutive upward pushes are meeting pressure and turning negative in the mid-channel, but it hasn’t formed a decisive selloff with follow-through volume. On smaller timeframes, the current action is just a normal retest after probing pressure—not a signal of real weakness. So, as long as there are no clear signals for rate hikes or cuts, keep looking for upside.

As for the big setup around 645, the key focus is 673. A break would target 680-700, and the stop-loss should be placed below 630.

Meanwhile, you can also follow along with the other setup, around 1745-1730. The key focus is 1850. A break would target 1900-2000, and the stop-loss should be placed below 1700.

The above is only my personal opinion and is for reference only!!!