Forex trading on US interest rates, the Fed catches us off guard [Video]
|We are always telling you to watch the economic calendar.
Well, the US Federal Reserve caught us all by surprise and lowered rates by 0.5% and not the 0.25% as predicted sending markets flying.
For example, EURUSD moved up and down over 100 pips giving us lots of trading opportunities.
Using a combination of technical indicators and previous support and resistance, we can confirm reversals on most time frames.
This was true of most USD pairs and we will have more interest rate decisions next week so make sure you watch Monday’s video.
As we know, corporations like lower interest rates and the US Indices jumped up with the good news.
We can see that the DJIA and the S&P500 are at record highs but the NASDAQ and the Russell 2000 still have room to move higher.
Last time we were anticipating a long trade on Natural Gas and, as we hoped, price action bounced off the lower trend line and returned to the upper trend line.
But, are we now looking at a reversal? Let’s look again on Monday.
That’s all for now.
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