FOMC Decision Plays?

Discussion in 'Forex Trading' started by Kanzei, Aug 5, 2008.

  1. Kanzei


    Rate increase or hold will be in less than 30 minutes.

    What is your play here?

    USD/JPY looks very overbought on the RSI... thinking perhaps there is more priced in expectation of a rate increase than the talking heads are predicting. Could this be wound up for a big drop?

    on the other hand...

    EUR/USD looks VERY weak having broken that long term trendline support on the 60 minute chart. I think it will either drop like a rock or rebound all the way back to test that trendline at 1.5550 area. (lots of help right...)

    What are your plays here?
  2. take the rest of the week off is my play
  3. most pros are out of the market for big news.

    hope you got lucky, and I mean that.