In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we examine Indices strength and Dollar weakness following FOMC.
After the rate decision announcement and press conference, the markets have resumed business as normal. We saw more continuation with the Dollar weakness trade and we saw significant volume begin to creep back into the US Indices markets, especially the S&P 500. With this in mind, we can look to engage with weakness across most of the major pairs. We can look to buy the following:
- EURUSD above yesterday’s high of 1.1806
- GBPUSD above 1.3011
- USDJPY below 104.78
- USDCHF below 0.9118
- USDCAD below the monthly low of 1.3317
- AUDUSD above 0.7196
- S&P 500 above 3265
Please note that all of these trades are correlated so it would be wise to only trade one or two of these at a time to avoid excessively increasing your exposure to the downside.
Indices Strength and Dollar Weakness Following FOMC – Full Video Analysis
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