EURUSD: CPI & FOMC Today. My Advice of Trading News Releases

FX:EURUSD   Euro Fx/U.S. Dollar
Today should be a very important day for the EURUSD             as we have both CPI             and FOMC Meeting minutes coming out for the USD at 8:30am & 2:00pm (NY) respectively. Like many pairs as of late the Euro             is currently at a spot right between structure levels where I have neither buying or selling interest. Hopefully today’s releases will push price action to either support or resistance, allowing me to have a much better read on the market for the remainder of the week.

On yesterday’s post I had a good conversation with a trader about predicting news. Whether you should or shouldn’t is completely up to you as a trader, but I do offer this advice to those who are new. Good news doesn’t always equate to a good move and bad news doesn’t always equate to a bad move. Rarely does the market move based on the actual number that is released, more so the interpretation of that number which is what makes trading news a difficult thing to consistently do (unless you’re a longer term trader). If you already have a position on (based off of the technicals) and you decide to hold an extended target because you think that the market may react a certain way, then that’s a different story as I trust that you’re using well planned out trade management techniques. But I would urge you not to try and take a position purely based off a guess, the risk over time well outweighs the reward in my opinion.

For you guys that joined me in yesterday’s Live Room Google             hangout, (here’s the recording https://www.youtube.com/watch?v=SfiGYUGWiuM) I did get filled the USDCAD             that we talked about. This may be a perfect example of what I mentioned above about holding a partial position if you anticipate a certain move.

Akil Stokes
Chief Currency Analysis at Trade Empowered
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I just realized that the trade from the video was a different intraday trade on the usdcad, still a good video regardless if you haven't seen it
JuicyPeanut Akil_Stokes
Awesome videos!
What do you think of this Gartley I found in the daily?
Potential Gartley Setup - USDCAD

Much better than only basing your trades on harmonics.. I like your new approach.
+2 Reply
New approach? I'm not sure I know what you mean.
Hi, I'm from China, I watched your video and subscribed, not understand all what u say because of my poor listening english. but your drawing was clear, I only understand the word cypher ,butterfly. anyway thank you for your sharing.
+1 Reply
Thanks for checking out my stuff, sorry that you're unable to understand my writings but at least you'll be able to gain something from looking at my charts
+1 Reply
lol,i am also chinese,your english is much better than me.
+1 Reply
could you give some advices about Shanghai Composite, China
+1 Reply
I'm sorry but I don't follow it
Great insight mate and good education lesson. All the BEST :)
+2 Reply
Akil_Stokes PRO moneymaking
you re right target is 1.131 around and after you have great sell position
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