EURUSD

Its amazing how over the last couple of years breakout trading has nearly become total suicide. The instant a key level is hit chances are you're going to be massively whipsawwed the other way before continuation...

i got dollars in my pocket. most of us here were in school or sloshing in our daddies sack before energy imbalance. most of us have no idea of life before 1973 in usd terms. and even less about trading it.

The Fed made some hawkish shifts to its October statement, mentioning that it will determine “whether it would be appropriate to raise the target range at its next meeting”. The bank also opted to remove the line "recent global economic and financial developments may restrain economic activity somewhat and are likely to put downward pressure on inflation in the near term" from its last statement that made reference to global headwinds.

In the weeks that followed October meeting, Fed Chair Janet Yellen has stated that December is a live meeting and the eventual decision to raise rates will be data dependent. Last month’s nonfarm payroll report was much stronger than anticipated (271K vs 180K) fueling the case for a lift-off.

The dollar could benefit from hawkish minutes while a perceived dovish tone is likely to be largely disregarded, given that the minutes were originated before the strong nonfarm payrolls report, published on Nov 6.

FOMC members accross the wires

On Wednesday ahead of the minutes, three FOMC members were speaking. Fed’s member Lacker, the only dissenter on the FOMC, said that improvement seen in the US labor market has been substantial adding that the probability that the Fed will get behind the curve is increasing.

Another member, Cleveland Fed, Loretta Mester said that the US economy is able to cope with a 25 bps rate raise. Finally, Dennis Lockhart affirmed his view that the FOMC should begin the process of normalisation with conditions now relatively settled.

EUR/USD levels to watch

A hawkish tone will likely trigger another bullish leg in the greenback that could drag EUR/USD below 1.0622 (7-month low Nov 18) with next bearish targets seen at 1.0570 (Apr 15 low) and 1.0520 (Apr 13 low).

In the longer run, and given divergent monetary policy outlooks between the Fed and the ECB, EUR/USD could continue to trend lower towards 1.0460, which is the 2015 low.

On the other hand, the dollar could face some corrective flows, with EUR/USD bouncing towards the 1.0700 zone. Above this latter, next resistances could be faced at 1.0735 (10-day SMA), 1.0757 (Nov 16 high) and then 1.0829 (Nov 12 high).
Source : fxstreet.com

what do u expect for FOMC guys up or down ???

TP 34+

IMHO DOWN

retracement to 645 all we'll see?​

That will just about do me nicely. That is the last trade of the day, not going to trade the fireworks.

How many of you hold positions over night?

Or do you close when you sleep?

what about over years ?

Is that an answer? Don't you get charged commission everyday month year?

GBP/swiss bullish gartley with flag pattern descending channel TP 25+

nope. no commissions..only swaps. but i don't trade them (negative swap) to carry long time.

Today's daily candle close is very important for future moves..

If the daily close is +ve, then choppy range is ahead..

If the daily close is -ve, then wild moves are ahead..

Good luck everyone

So I guess your long? EURUSD ?

Max going in with anything into FOMC?

Trend is your friend unless 1.0670 resistance break.

Short position but may open it after the spike

I want her to go down