9-18-19 EURUSD Day Trade Just after the FOMC rate decision
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Another Forex Snack.
Here we are just before the FOMC rate decision and the EURUSD is positioned at the middle of a recent range. A repeatable event in moving towards middle ground just in front major news releases anyway. My reddish box is the battle ground between Buyers and sellers. A break in either direction for me would point towards a longer term move. Having said that there is major support closer to current price lower then on the higher side of things. I think the market is positioned more towards the short side, so a up side move could surprise the markets and bring in some short covering.
Let’s Allow the FOMC news to show the markets direction and then I will at least react to that move.
In trading you either make dust or you will eat dust.
As usual, if you trade this idea, the risk of loss is all yours.
All the best in your trading.
Here we are just before the FOMC rate decision and the EURUSD is positioned at the middle of a recent range. A repeatable event in moving towards middle ground just in front major news releases anyway. My reddish box is the battle ground between Buyers and sellers. A break in either direction for me would point towards a longer term move. Having said that there is major support closer to current price lower then on the higher side of things. I think the market is positioned more towards the short side, so a up side move could surprise the markets and bring in some short covering.
Let’s Allow the FOMC news to show the markets direction and then I will at least react to that move.
In trading you either make dust or you will eat dust.
As usual, if you trade this idea, the risk of loss is all yours.
All the best in your trading.
Ghi chú
The aftermath of the FOMC was uneventful to say the least. It turned out to be a nothing burger! Nothing to do with the EURUSD right here. To much directionless or overlapping moves confined within a tight range. Just watching for now.
The aftermath of FOMC on the EURUSD
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