I’m just starting to get into the fundamental side of the house? Guess I picked a boring time do it? Or is my reaction too soon? Because the FOMC having a meeting seemed to create more anticipation in the market before it’s announcement. Then things kind of went flat. What am I missing? Thanks
The fed was dovish, taper increased as expected, reflected in the USD’s latest rise - there were no surprises.
Some text got changed, so the guessing is on that NFP will also be as expected.
Nothing of particular note so it’s back to pre-nfp doldrums. Usd/Jpy reflects well, price has done it’s thing before the news.
Anyone who went long USD on the possibility of a move may just have chickened out (like me) when they saw the statement and may wait until Europe opens tomorrow - no point in sitting through a silly draw down during Asia.
Thanks for the reply,
Yea ditto thought I really saw some steam building up and got in at about 102.80. Chickened out and broke even after about 3 hours of not much. Fxcm has a new indicator(not advertising I just have fxcm) that shows volume and movement. Sort of a market depth thing and it was surprising how little interest there was. I’m eyeing the ~103.30 mark now or 100.80.
I guess what I’m really trying to get a feel for is what it takes to really get this pair out of its sideways move world event wise. Technical analysis I get but come on usdjpy do something!
Did you go long USD/JPY? Been watching that 4h descending triangle for quite some time then chickened out when it broke out too.
I was short cable and half usual on Fibre, figured that with downward momentum the Euro would reach for 3350 with little upward risk, likewise 6850 on GBP was within reach.
When I saw that there was not going to be any momentum - well that was that, I suppose it was a reasonable play since the biggest risk was the way it actually played out.
I had pending entries set on usdjpy both long and short just based of technical analysis and a possible pnf breakout. The long got hit but went no were.
Good call on cable, looks like GBP is one of the weakest currencies so far. But yeah, that move was a slow crawl.
Went north nearly a 100 pips from the 102.00 mark then got stuck at 103.00. Looks like a bullish pennant though. Think it’s worth taking another long trade for the NFP?
I do. I’m long again at 102.80. 101.70 sl and 105.80 tp. Clearly resistance turned support in the short term. I’m aggressive here. A bullish bounce off the level would confirm my analysis stronger. I just don’t see a strong retrace though. Enough to make me place an early trade. Pnf points long, box breakout points long but needs a strong move up then back down to 102.80 with a bounce off of it. “It’s a bold move, let’s see if it pays off”.
Side note: the fact I’m even conversing pipdiddy is an honor for me…