What happened on the 16th at around 16:00-20:00?
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  1. #1
    Join Date
    Mar 2017
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    Default What happened on the 16th at around 16:00-20:00?

    Looking at different charts I can see how yesterday (Thursday the 16th of March 2017) there was a huge spike in bullish behavior. And that happened in pretty much every single chart I look at. EUR/USD, AUD/USD, Gold, etc. Is this because the USD tanked? I just realised while writing that every exchnage pair I mentioned has the USD as the second part of the pair. If the Dollar did tank, was there any specific reason?

  2. #2
    Join Date
    Oct 2013
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    968
    Quote Originally Posted by Enoro View Post
    Looking at different charts I can see how yesterday (Thursday the 16th of March 2017) there was a huge spike in bullish behavior. And that happened in pretty much every single chart I look at. EUR/USD, AUD/USD, Gold, etc. Is this because the USD tanked? I just realised while writing that every exchnage pair I mentioned has the USD as the second part of the pair. If the Dollar did tank, was there any specific reason?
    Well it might be a selloff after the Fed's soft message about future rate hikes (increasing borrowing costs of US Dollars). Markets expected a timeframe of sharper rate increases this year but the Federal reserve stressed that they warrant only gradual tightening what in this case meant extension of monetary easing.

  3. #3
    Join Date
    Oct 2016
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    322
    US FOMC announcements are key events to be aware of if you're trading off short-term charts and especially if trading USD.

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