If the recent past serves as any indication, then we could see a move up today, given that the Feds unveil their tapering plans and begin the "deceleration" process. I expanded on this idea further in a detailed post which went up earlier today, enjoy: traderesque.com/opinion/macroscope/will-federal-reserve-unveil-tapering-plan/
Comments
justatrader
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So... a change of view now?
metalhe4der
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Well, yes and no. No, because the upside move was based on a taper plan. Had there been a taper, this play would have worked. Yes, because we do not have a taper, officially, and the opposite play is under way - the breakdown as we see it. So really, it keeps with the original sentiment of how news on taper can be played, based on past indications. I realize I should have been more explicit of both sides, and not only displayed what was hyped to be the Fed's decision. --I hope it's not a confusing answer?
metalhe4der
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In summary, the main point I'm trying to make is: Taper = Good for USD, goes higher. No taper = Bad for USD, goes down.