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Now that the FED has cut interest rates to 1%, and the market digested that information calmly, we are free to resume our trading (I was thinking, if the FED didn’t cut by half a point ‘as expected’, we were going to see how volatile the market could turn, but that didn’t happen so I’m going to stop writing about it :)).
Anyways, this is what I think the Euro could behave in the following days:
Euro analysis
If the market breaks 1.2980 for the upside, it is likely to continue its way up to 1.3350, but if it bounces back, a range is more likely.
Good luck!
RL
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Today most pairs are expected to trade in a tight range, why expected? Because its how they have been trading in the last couple of days. After the sharp moves we saw earlier last week they need to take a rest!
So, for most of them we will be trying to play de range, buying near the bottom of the range or going short at the top of the range. And obviously, all take profit orders will be placed at the opposite extreme (nothing more).
Here is the expected range in the Aussie
Aussie analysis
Green lines are short term support and resistance lines. Blue lines are long term S&R levels.
Good luck to you all!
RL
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