In this Daily Trade Watch report, we look for high probability trade setups to trade throughout the day ahead. After last nights rate decision and statement, we can see that the FOMC is proving positive for the US Dollar.
In fact, initially we saw the US Dollar weaken once the rate decision was released. However, during Jerome Powell’s statement and press conference, the US Dollar began to roll over and begin to strengthen. It is this piece of price action which interests us, because we have been waiting patiently for the US Dollar to pull back to support which can trigger some buying opportunities.
With this in mind, we need to be careful with regards to trade selection, something many traders have trouble with, with a number of markets giving us potential high probability opportunities. In this video, we discuss the trade which gives us the higher probability opportunity, this trafe is the EURUSD, but only if we get a break below yesterday’s low of 1.1186.
FOMC is proving positive for the US Dollar – Full Video Analysis
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