EURUSD

1.5 currently with GAIN Capital. I can't even think about trading with such high spreads. I would dump that broker instantly if I were you.

Did some highlights on the latest FOMC statement,

Information received since the Federal Open Market Committee met in July suggests that economic activity is expanding at a moderate pace. On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee's longer-run objective. Longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators and inflation moving toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for economic activity and the labor market as nearly balanced and judges that the likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year.

The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make a further measured reduction in the pace of its asset purchases. Beginning in October, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $5 billion per month rather than $10 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $10 billion per month rather than $15 billion per month. (10 billion QE reduce) The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee's sizable and still-increasing holdings of longer-term securities should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate.

The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will end its current program of asset purchases at its next meeting. (QE ends in Oct if shit doesn't come down) However, asset purchases are not on a preset course, and the Committee's decisions about their pace will remain contingent on the Committee's outlook for the labor market and inflation as well as its assessment of the likely efficacy and costs of such purchases.

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy remains appropriate. In determining how long to maintain the current 0 to 1/4 percent target range for the federal funds rate, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored. (no hint on early rate hike in 2015)

When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.


Original text
http://www.federalreserve.gov/newsev.../20140917a.htm

usd tapping on 84.59 level.. that is the June 2013 b/o level... that's just 1/2 way to target 90.xx min. pull up a chair and watch pa work

I don't see any barrier at that level...if 2859 breaks, it would go down to low 28xx numbers. But might be still a choppy ride within this range.

That was the head fake right? we going up now? lol.... good thing I caught that second long on the spike up...I saw it turn damn feed froze couldn't get in Short until too late...lol

There is no way in hell I would long this, even though it may turn here...safer to wait for the day to close.

womp womp womp.

Well done to those who bought the dip, I was prob too cautious here. Already 1.2940.

Statement is not hawkish enough to justify new high on USD.

Still waiting for conference.

Already 25 mins

dude... it just hit 2897`````
maybe you should talk about something useful to the trade...

Same here, waiting for it to come back up so I can short again for 50 more pips

I don't know what you see, but I see strong sell signals on H4 and daily.

Check your PMs

You are late 01:01 hour

The old horse shoe pattern eh

hey where can i watch the conference ??

It cant get much more hawkish...

what do you expect? Yellen to come out in a top hat, throw a big party with balloons and kazoos and announce "THE US RECESSION IS OVER! WE'VE WON"

And now let us see what Scotland brings us tomorrow or on Friday.

That could turn out even more hefty than this one today which did not change anything.

sure seems hawkish to me.... we might end up 1.3000... this is the twilight zone and then right back here

I see DJ FXCM dollar index making year high then dropping sharply, doesn't look good for USD. May be a strong sell signal.

But Im waiting a bit.