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Short

EURUSD ahead FOMC:I don't expect a significant change

FX_IDC:EURUSD   Euro / U.S. Dollar
397 1 6
Today, market pays all attention in the risk event : FOMC Minutes: This is the most important event this week and we all expect FED will use this meeting to prepare for a meaningful move next months.

In my opinon, I don't expect a significant change in this event, and FED will continue hold a cautious attitude and refuse to talk about any idea regarding rate.

If FOMC Minutes is a non-event , how to trade ?

What I actually fear is :RISK AVERSION.

Lacking of data, traders usually choose most safe solution: That is SELL Dollar.

RECENT WEEKS, I SEE A STRONG DROP OF VOLUME : TRADERS WATCH MARKET AND DON'T ENGAGE IN IT.

Cause of low volume , volatility is low as a result, only volume comes back, volatility comes back : significant move happens as a result.

THERE IS A GOOD REASON WHY VOLUME AND VOLATILITY IS LOW:

- THIS MONTH IS AUGUST, AND TRADERS ALSO INVESTORS TAKE SUMMER VACATION.

In short, we should wait and keep patience.

- Technical Analysis

We should have a wide view:

Look at on the chart , a big wedge patten I show on the chart.

I think EURUSD             will react according this pattern : Any break above or below the wedge will trigger for a strong move.

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