What is the reason behind it? I checked news, no news at that time...Anyone knows?
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newdigital, 2015.02.03 17:29
A top Federal Reserve official on Tuesday downplayed the Fed's nod to
international developments in its latest policy statement, saying it was
simply an acknowledgement of constant U.S. central bank discussion on
the potential impact of global market events.
St. Louis Federal Reserve Bank
President James Bullard said the Fed always takes international events
into account and, in his view, the insertion of the word "international"
was a recognition of that.
repeated his view that the Fed needs to raise rates sooner and then
move gradually higher after that. He also said that the oil price
plummet is distorting market-based inflation expectation measures, and
that these measures should be set aside until energy prices stabilize.
Bullard was speaking at the annual Delaware Economic Forecast event at the University of Delaware.
newdigital, 2015.02.03 17:31
Fed should delete 'patient' from next policy statement: Bullard (based on reuters article)
The Federal Reserve should delete the word
"patient" from its next policy statement, a top Fed official
said on Tuesday, which would give the central bank more
flexibility on when to raise interest rates.
St. Louis Fed President James Bullard said if the Fed
removes "patient" from its next policy statement in March, it
does not mean the central bank has to hike at the next meeting.
Removing the word at the next meeting gives the Fed better
"optionality", Bullard said.
Bullard is not a voting member on this year's policy-setting
This is based on timeframe ... if we are talking about D1 timeframe so you can see it by yourself:
So, this is triangle pattern, and of the price will break one of the trendline together with 1.1648 resistance to be broken (on close D1 bar too) so we may see the market rally within the primary bearish. means - it will be downtrend anyway.
As to H4 timeframe (intra-day situation) so we have the following:
Thus, it is uptrend on H4.
I mean - this trend will not change in anything globally (downtrend anyway).