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Volatility Reigns Supreme!
By Mike Conlon | December 16, 2009
As I mentioned, things can get dicey around the Fed rate decision. Today is no different. Here is a 5-minute chart of EUR/USD:
Looks like the US dollar is strengthening against the Euro even though the Fed is keeping policy “unchanged”. Right now this pair is hovering around 1.451. It will be interesting to see if it can hold 1.45, an area of psychological support. If that level is breached, the next stop could be at 1.438. Stay tuned!
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Topics: What To Look At In The Market | No Comments »