ForexSpirit

My two lower birthday trades made it into the money today.

My ham fisted prediction for the next couple of days is that price will return to lower levels up until the FOMC rate announcement.  I foresee the market insiders running stops; I see today’s euro strengthening as stop running around the 1.26 level.  If price drops into the 1.24 area by Thursday and the FOMC announcement is for just 25 basis points, then I think we’ll have a sell the fact scenario and euro will bounce back significantly.  If it’s 50 basis points then all bets are off.

EUR-USD chart

Trade results