I’ve been focusing in on the U.S. Dollar Index downtrend and this plays an important part of my current EUR/USD and NZD/USD trades since the “tomato can” for these two pairs is the greenback – which of course is very much in play as the FOMC Statement could accelerate the bearish Directional Bias.
The post-shutdown environment has a been a tricky one since there has been some “wait and see” as the FOMC approaches and traders want clarity on the risk environment by way of what the Fed sees and therefore those implications on the taper.
I also explain how I use very short term intraday time frames to find morning trading ranges and “who” moved the market rather then blindly relying on a quote board. (second video)
I also am focusing on the loonie since the BOC has now emerged more dovish than they have in a long time and how this makes CAD shorts a position I want to build.
Questions? Comments. Leave ’em here at the blog.