Tuesday, August 7, 2007

FOMC Policy Decision, cable down

FOMC rate decision is on later today at 14:15 NYT, this is also another major news indicator with potential pip movement of 100pips as detailed in my news guide. Crowd is expecting a no change in rates, as usual im not leaning towards any data but just the market reaction. We'll see how it turns out...

Gbp/usd moved the most among the majors today, went lower and now trading at 2.0197, closed my short positions on Eur/usd & gbp/usd for nice profits today. Market movement was better compared to yesterday and overeasy gave nice trade signals, juice turned red so early exit it is,+22pips. Noted down channel size, slope. So far, system rules are simple to follow, i actually like this one :)

FOMC rate decision: No change to interest rate, as expected. I'll skip on this one.

Results: +44pips

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