Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Where Is The Promised Land right chart XAG A0

Waiting at short for FOMC..

Originally Posted by Qabazard

That's totally logic brother ... but may you show me how did you initiate your position ? did you follow fundamental basis? pivots? rsi? divergence?

And what do you expect it to move after FOMC ?
Many thanks

My entry was determined from a few factors, it broke minor support, and rejected of the 5 and 9 ema very hard, shown on the candle chart, and there was a gap in market balance which i expected to be filled,shown by the balance point chart, as far as the FOMC, if they are hawkish in their comments, i would imagine the dollar will strengthen quite a bit, if they are dovish in their comments, the dollar will weaken

it appears price movement at the moment trying to pull me in the market so i moved my stop to +1 long from 1.3077

If i get stopped out no problem already traded pips

On my chart its already gone down

Closed me out for my 150pip target ----

Originally Posted by PoundGuy

it appears price movement at the moment trying to pull me in the market so i moved my stop to +1 long from 1.3077

If i get stopped out no problem already traded pips

On my chart its already gone down

wovvv..

Originally Posted by PoundGuy

Closed me out for my 150pip target ----

Very nice PG congrats!

Thanx
1.3195 was significan in the push up to the high since eur showed some recovery

Originally Posted by FLFOREX

Very nice PG congrats!

Originally Posted by Mary R

I don't know why you think there would be another leg up after the FOMC. Market participants may be expecting to hear something about another round of QE from the Fed which is unlikely to happen. If they say anything even slightly optimistic the dollar could really explode

oh well, it did explode with another leg up.

possible count updated
even if wrong and the yellow 4C is wave 1 instead, it still need to correct at least 50%, which i have exploited

Support and Resistance and rainbows

Fed says will keep holdings of securities at current level by reinvesting principal payments from agency debt, MBS in longer-term treasuries

■Will continue to roll over holdings of treasury securities as they mature
■To keep rates exceptionally low for an extended period of time, keeps fed funds rate at zero to 0.25% range
■Pace of recovery has slowed in recent months
■Pace of recovery is likely to be more modest in near term than had been anticipated
■Will provide technical guidance on operations later this afternoon
■Measures of inflation have trended lower in recent quarters
■Inflation likely to be subdued for some time
■Household spending increasing gradually but constrained by high unemployment, housing, tight credit
■Vote on policy was 9-1 with Hoenig dissenting
■Fed will monitor outlook and employ policy tools as necessary to promote recovery


Sourced from 'ForexLive'

I guess it's the Contrarian in Me. I'm back in short at 1.3190. I'll give it a 100 pip leeway before I bail out again.

Originally Posted by bill2759

I guess it's the Contrarian in Me. I'm back in short at 1.3190. I'll give it a 100 pip leeway before I bail out again.

The Contrarian may have a great idea........

Originally Posted by stanchiam

oh well, it did explode with another leg up.

I hope you profited on the explosion. My take is that their statement and market action means the commodity currrencies will be weak going forward. Long gbp/aud and long usd/cad.

Might be a good idea but watch how the candles close for the day

around 1.3195 was area of last explosive move up
if we where to close above it then maybe we might go higher

Originally Posted by bill2759

I guess it's the Contrarian in Me. I'm back in short at 1.3190. I'll give it a 100 pip leeway before I bail out again.