I have closed my long position on GBP/USD as I feel the market has gone as high as it can before the Fed's speech today. Potential reversal of the market indicated by the stochastic oscillator and the MACD. 4hr Chart showing uncertainty with the last 3 candles
do you have any idea why did this happen? yesterday's news releases indicated bullish bias for US dollar, but it still lost value dramatically!
JD_FX
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@Am771, I think its becasue the new rates introduced by the Fed are positive for the Stock market, meaning that a cheaper dollar is better for business.... i.e. if the dollar is cheaper then it is better for businesses buying goods etc. I am not totally sure to be honest, but I have noticed a correlation, the S&P & Dow are trading at all time hignhs and the dollar is falling...
Subrato-Nandi
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Good
djobbito
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Nice
JD_FX
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