Rate Cut

As was widely expeted, the Fed cuts the rates by 25 basis points. Although no suprise the USD is still heavily offered. The USDCAD is just sinking lower and the GBPUSD reached a 26 year all time high. The Euro seemed to have issues with the 1.45 figure so I will wait for a continuation or reversal on the lower time frames.

I mentioned a short term long possibility on the USDZAR on Tuesday and since then did absilutely nothing at all. Today however, it has decided to move on up finally providing some profit. I have raised my stop on this pair now.

Remember, tomorrow we have another very interesting day with NFP. The consensus is 82k and the previous actual was 110k. The Unemployment rate forecast remains unchanged at 4.7%.

I have had a couple of comments regarding Kalam's update yesterday. Just to confirm, he really is 21 years of age. I myself find it hard to believe that sometimes because he has so much drive and desire to make trading a full time occupation for someone so young.

May you all have an emotion free trading day.

FXCPS Team.