Pivot: 1.293Our preference: Long positions above 1.293 with targets @ 1.3075 & 1.315 in extension.
Alternative scenario: Below 1.293 look for further downside with 1.287 & 1.2815 as targets.
Comments: the pair has broken above its ST flag and is challenging its LT bullish channel upper boundary, the RSI is still well directed.
4 comments:
Hmm. I kinda think it's gonna be hard for this pair to go above 1.30... but we'll see.
Saw your blog from GJTrader's. I think I'm gonna start submitting yours too on FreshPips. Looking forward to seeing more posts from you!
Hi,
Now all eyes is on the FOMC meeting tonight. Although investors expect the Fed to hold the rates steady at 0.25%, the trading risk may not be that clear cut as commentary following the rate decision is likely to spark volatility in the U.S. dollar as market participants weigh the effectiveness of the new policy.
If the FOMC fails to expand its rate of purchases, then we should see a rise in risk aversion as investors remain skeptical of the central bank�s approach to stimulate the economy.
So traders please trade with care.
Regards,
Dan (CEO of ForexTradingPower
Just stopping by to support your blog.
Nice blog!
Looking forward to see new posts !
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