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Im setting up trades against AUD, JPY, GBP VS USD. I will be selling USD once the minutes come out at 2 pm. If the driver is not as expected and the $ doesn't get sold off, I'll wait for the rally market the $ , and then to end. I expect to be arguing over a pause for a wait and see approach. I believe there may even be talk of cutting rates. But thats just pure speculation on my part. Inflation remains out there. But I wouldn't put it beyond the FEd to mention it.
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Guys, part of the egy is to only exchange rallys. However, rallys which are against the $. I use the charts to loe currency pairs which are ripe for a rally when the alyst arrives. Meaning, that when a rally happens, these pairs will benefit me with the most PIPS. Well, thats the idea anyway...
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The FOMC minutes aren't the alyst I looked for. I'll see this rally as an opportunity to get into a dollar rankings. The current [price action is currently telling me that the FOREX markets were not surprised by the FOMC minutes. Which to me is good. I believe the market overall is dollar negative. I just dont know when the FED will give up on raising rates. Market still looks to selling the $ hooked, therefore I shall wait for this rally to finish before possibly jumping into some places.
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I wonder if the market is finally coming into line with my thinking. . .that that the FED is far from done. I guess we will just have to watch and watch. I hope that the market comes in accord with fundamentals..makes trading for me personally a bit easier. Trading dollar drawback for me sounds counter intuitive.
How can Europe respond to todays events.
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A little patience goes a long way. Im still awaiting Fridays news before making a determination. Im not comfortable making a commerce. Hopefully I will find the volatility Im.
That I wasnt really watching the markets last night, so that I missed to ship on the slow European rally yesterday evening.
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I snapped the dollar negative trend out this morning for the past hour using a trailing stop of 15 pips that just struck. I didnt have alot of time to watch the price movement so Im glad I did what I did. Between
GBP/USD EUR/USD JPY/USD I made a little over 200 pips. I didnt jump in until I was sure a fad started. I was stopped out at my tunnel on all 3 pairs.
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