Early this morning, the FOMC increased interest rates to 1.75% but did not provide a strong indication for 4 rate increases this year. This resulted in the USD losing ground across all major currency pairs. Chair Powell provided a positive but measured press conference.
Today, we are likely to see the USD regain some strength as the market recovers from the news.
Its Currently resisting the 61.8 on the 4 hour chart what do you think will happen ?
JinDao_Tai
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@mulweli_luvhengo, given the tariffs and potential trade war, trades should be kept "short n sharp"
take profit levels indicate the potential, but i seldom hold a trade all the way to that level.
in times of massive uncertainty, securing profits is paramount!
TitaniumPips
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@Jin_LCMSTraders, it ended up reversing but i like you deduction, i know the fear of holding and uncertainty what makes you calm when trading ?
vistula
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very nice if you're right I'll buy beer regards Matt
JinDao_Tai
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@vistula, on the way...how about half a glass of beer to start? haha
mechelmiller
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Thank you for your full explanation. I was in some US trades yesterday afternoon and when the news hit the charts went crazy. I saw the news, but was unsure of how it impacted the market initially.