The morning was very quiet yesterday as the markets awaited the FOMC minutes, however, once released we saw a big push in dollar selling; looks like the markets are finally getting back to normal.
From the minutes themselves, "Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery," essentially meaning that increased stimulus was then priced into the market hence weakening the dollar.
This played well for our USD/NOK short and puts us Bullish on the GBP/USD and EUR/USD crosses.
We are expecting further commentary out of eurozone members for the rest of the week as various meetings take place.We also have German GDP, US Initial Jobless claims and US New Home Sales to look forward to later today.
EUR/USD
The euro broke further on the release of the FOMC minutes and dollar weakness. We now look for strong entry signals to position ourselves long.
GBP/USD
Similar to the euro, the pound broke higher on dollar weakness, we now look for entry signals towards the previous resistance now turned support.
AUD/USD
Nice with trend pin looking for a push higher. We could see a retest of recent highs this week if the market continues to rally (our T1 mark).
USD/JPY
The dollar plummeted on the FOMC minutes putting the USD/JPY pair back down to its previous range, however, we still favour this pair to the upside and therefore are looking for good entry signals. 
Other Pairs of Interest
NZD/JPY
Hit T1 today for a nice little profit.
USD/NOK
Our USD/NOK trade continues to play out well, with another long tailed pin today we can move stops lower again and update profit targets.
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Strong Hints of Additional US Stimulus Driving Dollar Shorts
Published 08/23/2012, 05:12 PM
Updated 07/09/2023, 06:31 AM
Strong Hints of Additional US Stimulus Driving Dollar Shorts
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