The market is calm ahead of the announcement of the Fed meeting result where investors

Market steadies before FOMC meeting
The market is calm ahead of the announcement of the Fed meeting result where investors are on hold till knowing the Fed's monetary action.
Expectations are in favor of adding $500 billion stimulus to boost the economy, thus the size of the QE2 will affect movements in markets as the quantity will reflect the status of the economy.
Meanwhile, refuges are facing downside pressure where the yen and franc and declining against other majors, especially after the upbeat services data released from the Australia, UK and the US which provided hopes global recovery is not weak as expected.  
The dollar index, which tracks the dollar performance versus a basket of major currencies, is currently trading at 76.76 after recording a high of 76.86 and a low of 76.56.
US elections did not have much impact on the dollar where the midterm election results showed that Republicans regained the House of Representative while the Democrats maintained the majority of the Senate, which is still a big setback for President Obama.
Concerning the euro-dollar pair, it is trading near the day's opening, above 1.40 key level after recording a high of 1.4059 and a low of 1.3989.
Tomorrow, ECB will announce interest rate for November where it is expected to keep borrowing cost unchanged amid stability in the region.
Meanwhile, the pair is trading at 1.4020, whereas the trading range for today is among the key support at 1.3925 and the key resistance at 1.4250.
Moving to the royal pair, it bounced against majors after the report showing that UK services expanded in October to 53.2 from 52.8 in September, but it then retreated from a high of 1.6155 while it touched a low of 1.6004 earlier today.
The pair is currently trading at 1.6098, while the trading range for today is among the major support at 1.5920 and the major resistance at 1.6200.
With regard to the dollar-yen pair, it rose for the third day in a serious attempt from the dollar to rebound from 15-year low. The pair is currently trading at 81.34 after posting a high of 81.50 and a low of 80.58.
The yen is facing pressure on speculation the Bank of Japan will announce further measures to keep borrowing costs low to prevent recovery from faltering.
The trading range for today is among the key support at 78.55 and the key resistance at 81.15