Our outlook posted yesterday turned out to be spot on as the market made major moves against dollar yesterday – of course helped by observations in minutes of FOMC and comments from Ben Bernanke in the press conference following release of minutes.
We did not post any long term trade setups due to FOMC, but got a piece of action post the FOMC via a few short term scalping trades all in direction of the market. Here is snapshot of some of those trades:
Today the price action is expected to retrace some of the gains from yesterday and consolidate before making further moves. I will continue to look for longs on Gold and Short on Dollar against Euro, Yen, GBP and Aussie.