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RvrsTrader, merged your new thread because it was a duplicate of this thread...
Relax and be happy.
Quoting Hyo
Hi all
Is the FOMC web page the fastest place to read the press release?
yes

but you can get the actual interest rate decision faster through a news service. but to read the whole release, fed website is best...

go to this page and keep refreshing until you see it come up...
http://federalreserve.gov/fomc/#calendars
Relax and be happy.
OK here's my 2 cents:

The trade in the rumored hawkish statment has already occured...judging from where the eur and gbp are positioned now-i don't think the market gives a damn about the satement anymore...you might see the $ strengthen a bit-then probably retrace weaker as the market gets back to the reality of the fed keeping rates the same...

A much better trade possibility exists for the AUD/NZD pair-given the fact that the aussie rate is likely goin up...if NZ doesn't raise the rate-which i seriously doubt they are...a nice gain should be seen...now a lot of gas has already gone out of this trade as AUD has already gained about 70 pips but there could be more available when the actual announcement does come out...
Quoting NewstraderFX
OK here's my 2 cents:

The trade in the rumored hawkish statment has already occured...judging from where the eur and gbp are positioned now-i don't think the market gives a damn about the satement anymore...you might see the $ strengthen a bit-then probably retrace weaker as the market gets back to the reality of the fed keeping rates the same...

A much better trade possibility exists for the AUD/NZD pair-given the fact that the aussie rate is likely goin up...if NZ doesn't raise the rate-which i seriously doubt they are...a nice gain should be seen...now a lot of gas has already gone out of this trade as AUD has already gained about 70 pips but there could be more available when the actual announcement does come out...
The market may not give a damn about the statement anymore but do u ever see the FOMC not do anything more than 70 pips in 1 direction, if u ask me thats pretty good scalping opportunity either way because of the retracel, no?
Ghost Swoopen in for my pips while no one is lookin !!
You might very well be right-do u have any charts-i'm not sure if 70 pips was seen the last 2 times...

I would also strongly suggest to listen to either BB radio or TV for their interpetation...
I see the market moving to the region of 1.2544 eur/usd, in wait for the FOMC meeting, hands crossed.

Regards Traders
Quoting NewstraderFX
You might very well be right-do u have any charts-i'm not sure if 70 pips was seen the last 2 times...

I would also strongly suggest to listen to either BB radio or TV for their interpetation...
Alas i cant post any charts i dont use the systems u guys use, i am using 4xme software and just print my charts out but last FOMC did have a 70 pip reversal and they were calling it a crappy trading day. I do want top learn everyone elses software that they use on FF its just alot of reading but i am readen away, dont really know where to start tho.......
Ghost Swoopen in for my pips while no one is lookin !!
Quoting Ghostpipper
...I do want top learn everyone elses software that they use on FF its just alot of reading but i am readen away, dont really know where to start tho.......
Hi Ghostpipper, best place to start your journey might be at the MetaTrader Forum, they have many good threads for instruction and setup. The platform is very functional, versitile, and FREE !!! I've paid big bucks in the past for monthly charting subscriptions, and MetaTrader is nearly as good as the very best out there.

Happy Reading,
Thom
FXME is the path to utter destruction as far as I am concerned (i've heard a lot of horror stories), how is it going for you? I honestly hope it goes well. Is it too confusing or too simple? do you follow their signals hard or just use it as a guide?

what does fxme do when its news time, such as today's announcement?


Quoting Ghostpipper
Alas i cant post any charts i dont use the systems u guys use, i am using 4xme software and just print my charts out but last FOMC did have a 70 pip reversal and they were calling it a crappy trading day. I do want top learn everyone elses software that they use on FF its just alot of reading but i am readen away, dont really know where to start tho.......
Quoting Americantek
FXME is the path to utter destruction as far as I am concerned (i've heard a lot of horror stories), how is it going for you? I honestly hope it goes well. Is it too confusing or too simple? do you follow their signals hard or just use it as a guide?

what does fxme do when its news time, such as today's announcement?
I lost quite a bit of money the first month using 4XME but am gaining some back now. In my oppinion if you dont catch the moves right away with 4XME then it almost always reversed on me, i am no means a good trader, but am just learning the ropes. I am doing this as my job so any help from anyone would be greatly appreciated. Ive been thinking about trading the opposite direction the software tells me to trade actually lately seems i would have made some money then lmao........ Maybe im just new, who knows. News related its the same as any other day for the software, why is it diffrent for other software when news comes out?
Ghost Swoopen in for my pips while no one is lookin !!
Quoting accrete
Hi Ghostpipper, best place to start your journey might be at the MetaTrader Forum, they have many good threads for instruction and setup. The platform is very functional, versitile, and FREE !!! I've paid big bucks in the past for monthly charting subscriptions, and MetaTrader is nearly as good as the very best out there.

Happy Reading,
Thom

Thanks Accrete, im doing this as my job now, would be nice not to wipe out my life savings lmao... but seriosly would be nice !!! Your oppinion is greatly appreciated
Ghost Swoopen in for my pips while no one is lookin !!
Commerzbank Daily Currency Report:



The EUR view:

As the FOMC statement nears, financial markets have

continued to nudge up expectations of a Fed hike early in 2007. Though the

market retains its expectation of a cut from summer 2007, the swing from

discounting a cut in Q1 by some 70% to a Q1 hike by around 15% - all in the

space of 3-weeks - has been aggressive. Lower energy prices, a more

hawkish sounding Fed and downward revisions by Fed economists to the

trend rate of growth are driving expectations. Having steered the market to a

more balanced position on rates, the question now is does the FOMC really

want markets to come away from this meeting with the view that on a

medium-term basis, growth is not slowing sufficiently to bring down inflation

and that the next move is more likely to be a hike? Notwithstanding the

importance of the Fed’s revisions, that imply the economic growth that can

be attained before inflation kicks in is lower than previously thought, we do

not think the FOMC statement will take that next step. Subsequently, there

could be a small bond market relief rally, with lower yields pulling the USD

lower too - 1.2630/40 should do it in EUR/USD. If we are wrong, however, a

more hawkish Fed risks a move down to 1.2465 - the July low. A softer than

consensus Ifo may give the USD a head-start this morning. As noted, the

USD’s sustainability to higher rate support is dependent on growth holding

up. Because some data will be weak, the USD faces intermittent bouts of

weakness and ultimately the FX market will have to make up its mind on

whether it believes the Fed will over do it and hurt growth - a USD negative.

Data this week in the shape of housing and Q3 GDP, certainly have the

capacity to influence this debate.
Profit is where readiness meets Opportunity
Looks like Commerzbank feels there is more room for a dollar upside than down.
Profit is where readiness meets Opportunity
41 people watching this thread! Go watch your FX screen! hurry!

I thought about putting in OCO orders, but I am afraid of the false spike, so I will trade this one manually...will post results in my journal afterwards

Good luck day-taderz!
http://federalreserve.gov/fomc/ is down for the update...
so how are you guys trading this one? Which currencies? Orders or manually?
Quoting RvrsTrader
so how are you guys trading this one? Which currencies? Orders or manually?
Watching with interest and standing down unless Big Ben says somethin' good.
Just no good pre announcment buzz
Profit is where readiness meets Opportunity
im currently long usdchf. so im hoping for positive news for the dollar now...
target is about 1.30 in about a month time if dollar continues bullish
total noob question: so it the interest comes in at above 5.25% - will the USD value go up?
Quoting RvrsTrader
total noob question: so it the interest comes in at above 5.25% - will the USD value go up?
Most definitley.
Just not likely to happen today.
Profit is where readiness meets Opportunity
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