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  • Fed's Actions Reverberate But EUR/USD Capped at 1.3500 For Now
    The reverberations from yesterday’s surprise announcement by the Fed continued in the currency market with EUR/USD remaining bid in early European trade but the 1.3500 handle remained serious resistance as the pair had trouble penetrating that level. Yesterday’s announcement by the FOMC that it will purchase up to $300 Billion in US Treasury securities, spurred a massive dollar sell off as few traders expected the Fed to initiate quantitative easing quite so soon and on such a large scale.

TRADE IDEAS

  • Trades to Watch
  • Trades in Progress
currency trade idea
AUD/USD
Medium term



 Buy Buy at 1.0755
Stop at 1.0681
Target at 1.0834
EUR/USD
Medium term



 Buy Buy at 1.3190
Stop at 1.3166
Target at 1.3239
USD/JPY
Medium term



 Buy Buy at 76.6200
Stop at 76.38
Target at 77.4
currency trade idea
GBP/CHF
Medium term
Opened 2/8/2012
 Sell Short from 1.4470
Stop at 1.4602
Target at 1.4352
AUD/CAD
Medium term
Opened 2/6/2012
 Buy Long from 1.0740
Stop at 1.0655
Target at 1.085
USD/CAD
Medium term
Opened 1/31/2012
 Sell Short from 0.9990
Stop at 1.0005
Target at 0.9905
These are hypothetical trades and should not be relied upon as a substitute for independent research.

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