Rate Decision

It is very unlikely the Fed will raise rates today. It wont make sense to raise rates while unemployment claims rise. In fact, the way things are looking, the Fed may not even raise rates towards the end of the year.

The USDCAD had produced a breakout but this maybe false so beware of that.

The USDJPY was on both our watchlists from last week as we mentioned on this site and today we triggered the trade. As mentioned last week, to be a dynamic trader we sometimes have to stand aside an await the appropriate time for entering. Well, the set up finally arrived and we have 60 pips profit this morning.

Good trading

Forex Analyst

Javid Shaik