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EURUSD‬:FOMC Minutes decides the move.

FX:EURUSD   Euro Fx/U.S. Dollar
269 1 6
For 4 days , EURUSD             sideways in a very tight range between 1.1330-1. 1400             : Only 70 pips.
If you look at daily chart , we will see 1 big doji star and 3 hammers on the chart. It means market participants are very hesitate about next move, they need to find a catalyst to give a decision.
Today, the main focus will be FOMC Minutes. Initially, I don't think this will be a risk event, but market is mute ahead FOMC Minutes signals traders are waiting and choose this event to trade, so I must watch this event.
Clearly, market as well as traders wants something new from last Yellen's comments. They need more upbeat tone in the statement ,more hawkish to be confident in holding LONG Dollar positions.
If Mrs.Yellen once disappoints market's expectation, market would punish Dollar like previous week.
I hope there will something new; in fact, US data are not bad, labor market continues to perform very well, so FED has no reason to be dovish.
I keep SHORT EURUSD             and LONG USDJPY             .


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waterman
8 months ago
FED is having all the reason to be dovish. The real unemployment rate is 20 not 5 as shown. Listen to Trump.
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