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FOMC Meeting Minutes

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Dear Traders,

Only yesterday we were talking about difficult market conditions without sustained consistency but finally there has been some momentum, providing traders profitable chances in both major pairs.

The GBP/USD was the best performer yesterday, falling more than 150 pips from our short-entry. A next target for sterling bears could be at 1.5320, from where the British Pound may bounce off. Above 1.5550 we would favor a bullish stance again.

The EUR/USD should still be treated with caution. While the euro declined against the U.S. dollar and surprisingly showed a linear movement to the downside, the currency pair remains vulnerable for spiky moves. Greece promised new reform proposals but Europe’s leaders warned Tsipras that only a few days are left to reach a deal. Greece has now five days to commit to its reforms and accept the terms of the Eurozone’s financial support or face ejection of the euro region.

Euro-zone fiance ministers will hold a conference call today to weigh Greece’s new aid request. If the loan from the European Stability Mechanism (ESM) is granted, it would give the nation some breathing space.

FOMC Minutes of secondary importance today?

The Federal Reserve releases minutes of the last FOMC meeting at 18:00 GMT. No surprises are expected as Fed chair Janet Yellen failed to provide a clear timeline for a rate hike at her last press conference. Chances are that minutes are more hawkish, but given the recent turmoil in the financial markets, the Fed’s view may have changed since the last meeting. The impact on the dollar could therefore be muted today. Let’s wait and see.

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Fed Chairman Janet Yellen Testimony

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Dear Traders,

what’s going on this week?

We will listen to the speeches of Janet Yellen  (Tuesday & Thursday) and Mario Draghi (Wednesday).

Yellen will speak the first time before the U.S. Congress since being chairman of the Federal Reserve. Market strategists expect that she will reinforce the Feds’ steady tapering course.

From the technical point of view we should expect following:

EUR/USD

Chart_EUR_USD_Daily_snapshot 10.02.

 

The Euro is trading in a down-trend channel. We should presume that a drop is very likely.

We go long above the level @1.3660 until 1.3710

We go short below the level @1.3590 until 1.3550/00

GBP/USD

Chart_GBP_USD_Daily_snapshot 10.02.

The Cable has a strong support at this level drawn in the picture.

We will look out for long contracts until 1.6500/60. For short contracts we will have our target at the level of 1.6300.

Daily, we update all our signal subscribers with exact entries and Take Profits Levels as well as appropriate money-management.

We wish you many good trades and a beautiful week.

 

2014 Expectations with the Fed and Janet Yellen

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Dear traders,

first of all we wish you a happy, healthy and successfully new year 2014!

We hope you had a good start and feel fit for trading with new energy. So, let’s see what we can expect for the beginning of the year:

Now it is confirmed, Janet Yellen will replace Fed chairman Ben S. Bernanke. She is the first woman to head the central bank in its history.

She is supposed to support for Bernanke’s policies that aims for price stability and long-term growth.

And what’s about the tapering?

The committee of the Fed, scheduled to meet January 28-29, probably will cut its monthly bond purchases in $ 10 billion increments over the next seven meetings. The first step towards the exit is taken last month with a reduction of asset purchases from $ 85 billion to $ 75 billion. This could generally lead to a bullish Dollar and maybe to a main downtrend for the Euro as it showed very bearish the first days of January.

EUR/USD

The Euro welcomed the new year with his bearish side. It is still trading on the lower line of its up-trend channel.

Under level 1.3570 we expect more short movement until 1.3485 and 1.3410. Above 1.3700 it may rises until 1.3815.

 

Let’s take pot luck. We will give you daily entries by our signals.

Good trades and many pips!