LOL - I see you have a "sweet tooth"
Some are licking there chops today - congrats to all.
There is FOMC report every month.
So far, I've found that it usually produces earlier entries and better results.
Has Anyone else been looking at this?
Is there enough interest to start a new thread on the subject (please PM me to keep this thread clear).
Start it, if you want, but in CatFX50 section.
Jwoger, you know me already; you know that I find gurus, ellioticians and all these kind of fellows funny, to be polite.
I do not like to predict. Do you know why? Because I do not have enough money to make my predictions true!!!
So, to the facts:
Fed's statement proved more dovish than more Fed watchers had expected, according to Dow Jones news feed.
So, to the levels again: holding above 1.2637-1.2551, the pair is set to go to 1.2885.
hl next activator
does any body know about the hl next activator see chart
a recent chart
one more 30 mn chart
Post the indicator and we could know more.
"Dollar Down Trend Resumed?
After the 25bp hike, market has taken the accompanying statement as dovish, no doubt. Some even suggest that Fed will pause the tightening cycle as soon as in August. We're not that certain though. The statement was a departure from recent hawkish comments from Fed officials but it's at most neutral, showing Fed are uncertain about future policy. It doesn't necessarily mean a pause. Could we face the same situation when Fed's chorus starts to sing hawkish again in late July? Maybe, maybe not. And as Fed said, it "will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information".
Though technically speaking, dollar's sharp sell off yesterday has pushed it through some important near term support levels against majors. Odds has increased for the case that dollar's corrective rebound has finished and is resuming the down trend that started off last Nov. Let's see how it develops.
Today's economic calendar is packed with important data including Eurozone sentiments and June HICP. Also, out of US, May personal income and spending will be released. More importantly, there will be Fed's preferred measure of inflation gauge in Core PCE deflator which is expected to increase 2.2% in May, staying at upper end of Fed's comfort zone.
Well, after a big move like the one we had yesterday, it is time for a consolidation and for a retracement. EURUSD has made a new high at 1,2733 and now is fighting for keeping above 1.2700. I do not know if it will succeed on that, but there is a fight in here.
The point is: we can not trade according to what we think, but to what we see.
I say this, because some guys were selling EURUSD yesterday at 1.2555 because they thought EURUSD was a sell. And EURUSD kept going up and they kept selling. Nice.
The problem of all these things is that for a newbie it will be his economic failure.
Please, do not open the door of the market thinking you will see yellow walls.
Do not listen to gurus, snake oil sellers, EW followers and all these guys.
Try to find a system that fits you, the way you are, your psychology and stick to it. CatFX50 is one of them, but there are plenty out there.
here it is