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The FOMC did nothing yesterday, as expected.

The markets were crazy early on ... and then again following the meeting. (A whole lot of jockeying, as Jack likes to say.)

The US dollar was the overall loser on the day; the standout winner seemed to be the euro.

In the last hour of trading yesterday the S&P 500 wiped away much of the day’s gains; futures are relatively flat as the morning gets going here in the US.

The US dollar was somewhat stronger this morning ahead of the Bank of England and European Central Bank monetary policy announcements.

The BOE, as expected, did nothing with rates, and they did increase their quantitative easing program slightly. ...

Real-time Monetary Inflation (last 12 months): 4.0%

Following the lead of the U.S. Federal Reserve, European and British central bankers held interest rates at their record lows Thursday as the Continental economies continue to struggle out of recession.

Things are especially tough in Old Blighty. Last week, while the U.S. reported real growth in its gross domestic product for the first time in a year, Britain's third-quarter statistics showed recession still gripping its economy. Eurozone figures, due out next week, are widely expected to exhibit growth.

This year, gold has been a bellwether in this differential economic calculus.

The metal may have reached new heights in dollar terms, ...

Triangle breakout trades are great for getting good profits, in a quick time frame. The problem with trading chart patterns is that you have to be there when it happens. Which is no easy task. I can tell you that many times I will be watching the pair and just when I go to do something else, that is when the price will break through and I miss the trade. I hate it when that happens.

Also learn about the upcoming NFP new release on Forex Crunch.

So today lets look at a triangle on the Eur/Usd.

4HR chart


We have the resistance at 1.4920 and the support at 1.4626. Then ...

[COLOR=#000000][FONT=Times New Roman][FONT=Arial][B]The Bank of England decided to expand the Quantitative Easing program by 25 billion Pounds, less than 50 billion that was expected. Less Pound printing is better for the Pound that enjoys another good figure this week.[/B]

British interest rate remained at the historic low of 0.5%. There’s no rate hike in the horizon. No surprise here.

[B]Surprise with Quantitative Easing: Mervyn[/B] King’s MPC is cautious with printing more Pounds. He personally wanted to enlarge the program to 200 billion Pounds already in August, but didn’t get enough support.Now that money has run out of the program, the Bank moved forward with this program.

Following the [B][I][URL="http://www.forexcrunch.com/gbp-to-usd-falls-on-ongoing-recession/"]bad ...