YO-YO DAY FOR THE USD
We have been speaking about this all week as it will be the most important rate announcement before the end of 2018. FOMC today will hike interest rates
by 0.25% but the key will be in the statement and press conference after. If they plan to gradually increase interest as Trump is suggesting oddly enough,
then the dollar has room to the upside. A break and close above the key resistance of 97.70 will be ideal to look for long opportunities.
If they plan to gradually reduce the rate in which they hike rates the USD could fall in line with the Bond market and a break below the lows of 96.20 will be ideal for further shorting opportunities.
Very rarely do we sit on the sidelines with trading analysis but this is one that could go either way...
by 0.25% but the key will be in the statement and press conference after. If they plan to gradually increase interest as Trump is suggesting oddly enough,
then the dollar has room to the upside. A break and close above the key resistance of 97.70 will be ideal to look for long opportunities.
If they plan to gradually reduce the rate in which they hike rates the USD could fall in line with the Bond market and a break below the lows of 96.20 will be ideal for further shorting opportunities.
Very rarely do we sit on the sidelines with trading analysis but this is one that could go either way...
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