Wednesday may unleash the cause and effect built up on the daily chart ranges, and if recent reactions to the Fed are anything to go by, this should be big.
Stocks moved back to their opening prices after trying to break higher and failing in Wall Street trade on Monday, a move that has left the dollar holding the major pairs at bay. These daily chart channels are dramatic in the way that they are closing in, and may be building huge caues and effect for whatever fundamental change is thrust upon the markets; and there is no bigger fundamental driver than an FOMC rate decision and statement. Therefore 14:15 EDT on Wednesday could unleash the momentum, and possibly break the daily chart SMA chains that have restricted the major pair movement.
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Wednesday 14:15 EDT: FOMC Will Unlock The Major Pair Channels
Published 12/31/2000, 07:00 PM
Updated 04/27/2009, 07:24 PM
Wednesday 14:15 EDT: FOMC Will Unlock The Major Pair Channels
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