For those that are in the know, you are already in on this pair and in good position for the move up. For those of you that are still on the sides because you didn't know. well, what can I say?
So the FOMC did nothing to change the picture and in fact, with the non-news coming from it, has freed this pair to rise unimpeded by fear of any impending rate hike. At least for another month. But that's all I will say about any fundamentals as it's not important now. Next FA news will be the RBA.
In any case, here I've updated the wave count to reflect the spike up post-FOMC. I'm seeing this spike as possibly as wave 1 of iii of (v) coming off the end of the wave (ii) of (v). If this is the case, then prices will not drop below where I have the end of the wave (ii) ending. A good place to look for confirmation of this move up is if prices break the extended upper TL of the completed expanding triangle.
Do you want to see a more in-depth analysis on this pair? Do you want more analysis and trading tips? Join my faceboook group to see it. Go there now: www.facebookdotcom/efxselect (replace the "dot" with ".")
My members get complete REAL-TIME in-depth analysis, trades, alerts and signals on all pairs I cover as well as expert trading advice and tips. Would that help you? Go here now to signup or to get more info: http://www.efxselect.com
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.