27th April Daily Wrapup & Updates: Post-FOMC (Free Edition)

FX:USDJPY   U.S. Dollar / Japanese Yen
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This Daily Wrapup & Updates will be published daily from Monday- Thursday. Friday Edition will be published on Monday morning (all dates/times are based on EST or GMT             -4).

Daily Wrapup & Updates are just a brief overview on what the markets have done and what I think MAY happen. These are not comprehensive analysis on the markets. So please use them as such.

27th April Daily Wrapup & Updates

Today, despite the FOMC, prices are moving EXACTLY as projected. Still looking for prices to complete the 2 POTENTIAL Bats and then look for SELL setups.

AUDUSD             was a BIG mover today and has now cleared up the big picture a lot! We saw a big drop last night from the release of the CPI             and that drop eliminated the ED scenario and is now firmly in the H&S scenario. The FOMC did nothing to change nor support that. I am now expecting that prices should move to create the right shoulder of the larger H&S .

USDCAD             still headed lower despite some bullish action today during the FOMC. If you are thinking LONG now, I suggest you be careful of catching that falling knife! Prices have not reached my "critical zones" yet. And it is highly likely they will reach one or even both of them before we see any reversal. (see my free in-depth analysis: (F) USDCAD: Finishing Up The Downtrend)

Nothing much happened today despite the FOMC. Just sideways action and a continuation of what I already projected would happen. But still looking lower in the retrace. (see recent post: (B) GBPUSD: Still Looking Higher - subscription required. Click here to subscribe to trial offer: Subscribe Now!) We are already SHORT in GBPUSD             and already in profit.

EUR has continued an escalator uptrend with a few pops up during the FOMC. This kind of trend will lead to an explosive release. It seems to have reached a resistance point though so it shouldn't be long before it drops. This is the post from then: (F) Update: EURUSD             – Lesson On Price Action Updated (no subscription required). It was a subscriber's only post but I have now made it available to everyone. There is an important lesson in price action in that post so if you want a good example of it, go read it. We are already SHORT in EURUSD             and looking for profits.

Still moving as expected. USDCHF             had some volatility during the FOMC but nothing changed. It is still moving the way I see it moving. Going up to fill that POTENTIAL Bat. (see recent post: (B) USDCHF: Is This Uptrend Real? Or Is It Just A Mirage? - subscription required. Click here to subscribe to trial offer: Subscribe Now!)

NZDUSD             was the one pair out of these seven that really surprised and left me wondering what is happening to it. It dropped as expected it would before and during the FOMC but suddenly jumped up again and retested the broken bottom TL of the ED again. So far that TL has held prices so from there, probably will drop back down to eventually get to that MAJOR TL before bouncing.
Comment: Last week I introduced a new Daily Update feature to my service where I will be summarizing the days market activity and what that means to you. However, after I had sent the first edition, our database suffered a crash which wiped out that post as well as some other recent posts. So this will be the first edition. The first edition will be completely free and available to all members subscribed or not. However, subsequent editions will have both a Free edition and a Premium Edition.

Free editions will include coverage on the Basic pairs that I cover. Premium edition will also include markets that I cover for paid Premium subscribers. EFXSelect reserves the right to rescind this and any freely available resources at anytime without prior notice.
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Nice work. Thank you for the updates
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