ForexSpirit

Tuesday and Wednesday were very quiet, with a gentle trend downwards.  Then we had the FOMC interest rate announcement today; the expected 25 basis points, along with a slightly dove-ish statement.  Euro took off like a rocket.

Since we moved the grid down to 124 – 1.28 a few days ago, I entered a two lot entry as things started to take off.

I placed a profit target of 30 pips for my earlier (as in two week old) three lot position, which got hit this evening.

EUR-USD chart

Trade result

The interest rate differential certainly took its toll on this trade result, wiping almost $16 off the gross profit of the trade.