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Today's Fed's statement may be disapointing the market and USD will be sold for a while, pushing this pair down a little furhter, and then bouncing back again.
Now it may be in wave C targeting 107.50. I didn't have a chance to get short around 108.40. I do not like to leave an order overnight with tight sl, I can not sleep well that way. I am in Canada.
(Becareful, I am new in fx)
Edit: B wave could be a triangle. If this is the case, then we are still in B wave. I am thinking to get short below 108.15 with 15 pips sl or just at 108.20.
Edit: I will not put any trade. It's too risky at this special day before Fed's statement.
Last edited by y_2008; 08-05-2008 at 03:28 PM.
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