[EUR] Before FOMC Issue

EUR/USD 4-hour chart, source:MT4, Kr Futures

The meeting of FOMC, Federal Open Market Committee is held on Wednesday. FOMC issues U.S. benchmark rate at 18:00(UTC) this day. Before FOMC's statement, the one of the major currency pair, EUR/USD rises since 21:00(UTC), Tuesday and it touched Bollinger Bands' Upper band now. It seems to rise in short term.

The most market participants expect the hike of Federal Fund Rate this day. The market anticipates the benchmark rate will be risen to 1.50~1.75 percent.

The event of interest rate hike ordinary leads the currency high. The market's expectation supports the rise of greenback. And the old news is not powerful news any more, as it's known. Fed's action is already forecasted and the momentum is reflected in the greenback's price. The trend of U.S. will not be changed rapidly by the event.

I recommend just to watch the market before the FOMC's events because it is very big event. Windsurfer loves strong wind but doesn't surf in the storm.

If you want to get the position before the events for large profit, you can enter the market with bi-position. You can buy Short position and Long position simultaneously and liquidate the wrong-direction position if you thrive on adventure.

I want to say that we participate the market to get the profit not to enjoy the thrill.


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