There is nothing new to report in the markets as the technical picture has not changed since the beginning of the week. Both major currency pairs traded sideways within their constrained trading ranges, failing to provide any sustained profit opportunities for daytraders.
This may change with the FOMC statement today, but the chances of big market moves are slim. The Federal Reserve releases its FOMC statement alongside the rate decision at 18:00 UTC, following a two-day meeting. There is no post-meeting press conference with Fed chair Janet Yellen, so the main focus is on the statement.
While an imminent rate hike is not expected, the minutes could highlight the fact that the committee is divided between hawks and doves. The statement will probably acknowledge better news on the economy on the back of strong job growth and retail sales, and this fact might attract some hawks to vote against standing pat.
If the minutes reveal more than only one dissent, it would be considered as an indication the Fed may raise rates even earlier, which is dollar-positive. However, given the sluggish market activity we doubt that today's FOMC statement will be a big market mover, but let us be surprised.
Ahead of the Fed statement, we will keep an eye on the U.K. GDP report at 8:30 UTC and U.S. Durable Goods Orders at 12:30 UTC.
The symmetrical triangle suggests chances of near-term breakouts on either side. Above 1.1025, the euro may head for a test of 1.11, whereas a break below 1.0975 could reinvigorate bearish momentum towards 1.09 and 1.0880. However, if the euro remains below 1.1020, we continue to maintain a bearish stance in this pair and expect further losses. 
The 4-hour chart shows a descending triangle, which predicts upcoming bearish momentum. Whether this pattern proves to be correct remains to be seen, but the focus shifts to the 1.3060 level. Once sterling falls below that level, bears could take the opportunity to sell sterling towards lower targets at 1.30 and 1.29. The descending triangle becomes void if sterling climbs above 1.3177. 
We wish you many green pips for today, but bare in mind that the market is currently less profitable, which is why traders should not invest too much and take profits even at smaller targets.
Here are our daily signal alerts:
EUR/USD
Long at 1.1035 SL 25 TP 25, 70
Short at 1.0975 SL 25 TP 25, 100
GBP/USD
Long at 1.3180 SL 25 TP 40, 80
Short at 1.3090 SL 25 TP 30, 90
We wish you good trades and many pips!
Disclaimer: Any and all liability of the author is excluded.