[EUR] Long Bias and Fed's Decision 2018 0923

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] Before Fed's Decision 2018 0916

I have kept the short bias to EUR/USD, one of the major currency pair. But I should concede my view on the market is incorrect and change the bias.

I thought the chart would make the pattern of price-down, Head-and-Shoulders, but the price continued to rise. The trend line since mid-September supports the long position.

Federal Open Market Committee, FOMC release the U.S. benchmark rate on Sept. 26 and the statement on economy. The market expects FOMC may raise its Federal Funds Rate to 2.25 percent. It may give the power to SHORT bias to EUR/USD.  It doesn't agree to recent rising.

I revise my view on the market that the price will meet the adjustment while FOMC's events but the price of the pair will keep the upward trend.

What bias you support, I recommend that the trading halt when the U.S. benchmark rate is released. The adjustment size may hurt your account and capital.

I emphasize the money management than chart analysis and the big event is not available trading time.


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