Last night’s FOMC was largely predictable by most traders – in the sense that all sentiments of a rate hike has been fully priced in over the past few weeks.
In my previous post, Where is DXY (Dollar Index) headed now? and Weekly Analysis, I mentioned that DXY will still give way to the downside despite a rate hike of 25bp.
Indeed, USD/XXX pairs all fell pretty harshly.
Being a strong believer of technical analysis, there was simply NO reason for USD to climb, despite what Yellen said.
Previously, I have also shared with you how the gurus trade the big news – Weekly Focus/News Trading Strategy.
Similarly, I positioned myself well in the day and took a +4.35% equity gain out of last night’s movement.
This managed to push my equity to further highs, which also crashed through my psychological growth barrier.
Moving forward, there is still the BOJ, SNB and BOE decisions later on in the day.
No immediate plans to trade today since too much volatility on multiple currency fronts is not what I am looking for.
Shall take a step back and wait for new opportunities to present themselves.