nice, if the market choses a trend today after FOMC we will have good trades for the next days ;)
Gweedy
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Fantastic. Was watching this one as well.
Any thoughts on the EURJPY ? Looks like a good Long together with the EU. Broken out of the weekly channel, and a close tomorrow above todays highs will give us a technical setup.
The release of FOMC minutes to the end of July meeting brought more uncertainty with regards to the timing of the next increase in rates (Dicember for us). This can be seen in the reaction of the dollar, down 0.4% on the back of the release. The minutes themselves were expressing caution with regards to the inflation outlook, but were naturally more bullish on the labour market. Herein lies the dilemma for the Fed, whether to look at inflation and expectations thereof, or the labour market. Both form the legs of their dual mandate to achieve maximum employment and stable prices (together with moderate long-term interest rates). In terms of market pricing for a move, we are back to where we were around 3 weeks ago, with short-term interest rate markets suggesting that on balance rats are likely to remain on hold.
At the moment we do not change our point of view (basic), on the other hand from technical point of view, the next signals will be published directly on our Tradin Room (nonsolotrading.com)
Happy trading!