FOMC Press Conference

as soon as the Grandma gets coughed, immediately usd goes down ... Grandma ... do not cough

Haha!!!

good

The whole spike up in the dollar was a gigantic bull trap. I wonder how many traders were caught in that.

too early to tell, if it breaks under 1.1845 chances are we are inverting. If not then bull trap

Yawn..

Manipulations continues!!!

Got me for 38 pips... thank goodness it was only one micro lot (real money).

:-(

Was not surprised to see the whole spike am on the sidelines for now.

I think,, it is not a bull trap
dollar goes up till the end of year, just look at gold, usd/chf, dollar index.. bull trap cannot do it in all pair
the money flows like it should be

yes it seems to be.

Buy dollars. The correction started

Bought the dollar and won a couple more pips , Just wating for another move.. This is a wiat and see situation.

I think a near-term target at 1.1670 is likely for EUR/USD.

What bull trap is that? lol

Alex, nothing has essentially changed for the US dollar. It maintains a bearish sentiment, considering other factors besides the FOMC, like the likelihood of tax reform, economic toll from the recent hurricanes, North Korea, etc.

I didn't give my opinion on the US dollar, he/she claimed it was a bull trap and im yet to see one...

It's still a bull trap... albeit a very slow one. Usually they come in the form of a spike and then a drop but not this one. It's more insidious. I'll reiterate this - nothing has changed in terms of US fundamentals. Heck the announcement by the FED yesterday was expected and the market has already priced that in. The dot plot was pretty more or less neutral considering the way expectations went. If you consider the economic readings of the past few months, the US economy has been softening a bit and there are no signs it's reversing. I don't need to add the economic repercussions of the two hurricanes plus Puerto Rico just got completely hit by another one. And no, recovery efforts do not add to the GDP, at least not right away, just merely recovers what was lost.

The situation with North Korea has not yet achieved closure so the downside risk to the US dollar will persist.

To add, we're not even sure US Congress will even pass the promised tax reform, let alone even repeal Obamacare.

The interest rate for the US dollar is already one of the highest in the world but yet it's still weakening despite of the fact other currencies have lower rates or even negative rates. You'd think another rate hike will do trick? Don't make me laugh.

At the moment, there is too much headwind for the US dollar to surmount a lasting rally.

So yes, that move up in the US dollar is a bull trap for both buyers (to trigger their buy stops) and sellers (to trigger their stop losses).

Okay well we clearly have to very different understandings of exactly what a bull trap is. From my understanding a bull TRAP does just that, it traps the bulls in the market by breaking a multiple top resistance then INSTANTLY dropping back below the resistance in order to TRAP the bulls within the trade. For a Bull trap to be insidious seems slightly paradoxical. Like the one you referred to on USD/JPY it made multiple lower lows and consolidated for a while, both indications for bulls to exit the trade. So for me, No that move up in the dollar is not a bull trap.