Hello folks, I see there is a lot of debate about where we are headed next. Today is one of the few days that I too have absolutely no idea what will happen next, here's why.
We have been in a strong downtrend on the hourly chart since 1.46 (yes folks, 1000pips with no real retrace). What happened yesterday is the pair finally broke up out of this downtrend HOWEVER pa has returned to the breakout wall and it is currently being retested to determine whether it has become resistance or support. Given the gravity of today's news (FOMC) it is hard to say which direction we are headed. I am 100% neutral and flat and I highly recommend to all to do the same as the market could go either way here.
Here is the downtrend from 1.46 in its full glamor.
Here is the current predicament zoomed in.
Now remember guys, especially those of you who are new, sometimes the best trade is no trade at all.
Good pippin.
We have been in a strong downtrend on the hourly chart since 1.46 (yes folks, 1000pips with no real retrace). What happened yesterday is the pair finally broke up out of this downtrend HOWEVER pa has returned to the breakout wall and it is currently being retested to determine whether it has become resistance or support. Given the gravity of today's news (FOMC) it is hard to say which direction we are headed. I am 100% neutral and flat and I highly recommend to all to do the same as the market could go either way here.
Here is the downtrend from 1.46 in its full glamor.
Here is the current predicament zoomed in.
Now remember guys, especially those of you who are new, sometimes the best trade is no trade at all.
Good pippin.
Different opinions highly valued, ignorant to slander.