Navigating the Fed Water

Posted on Mi 12 Dezember 2007 in misc • 1 min read

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    I took a small EURUSD position on Monday @ 1.4722 and sat tight through the Fed meeting. I knew there would be some volatility yesterday and the markets sold off like crazy after the Fed's 2:35PM announcement. If you're a fundamental Forex trader like me, you just wait patiently for the trend to reestablish itself. If you're really smart, and not in a long meeting, you'd buy some more EURUSD on the dip.

    EURUSD reversed its course around $1.4670 which is about a 50 pip swing, which isn't too volatile at all!