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Wednesday, September 18, 2024

American Market Recap: US equity close: Big Fed cut can't fuel an 8th day of gains

US equity close: Big Fed cut can't fuel an 8th day of gains

The Fed delivered a big cut but it was a case of 'sell the fact' as equities couldn't keep the winning streak going. I think at the end of the day, you have a 'Fed put' now and that wins out but we co... 

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EURUSD moves back to 100 hour MA and swing area

The EURUSD moved higher (lower USD) after the Fed cut rates by 50 bps. The price extended higher and toward swing highs for the year. The 2nd to last swing high target was at 1.11897, and that level... 

The 'ole FOMC 'sell the fact' hits again

We've seen this one before. You can game out the Fed decision as much as possible but the market loves to punish both sides of the trade. That's exactly what we're getting at the moment as the US doll... 

The USDCAD is back above the cluster of MAs

The USDCAD moved lower with the dollar but as the comments from the Fed chair were sprinkled with the "economy is not doing badly", gave the USD a boost. Looking at the USDCAD, moving below the cluste... 

USDJPY moves back above the 100 hour MA at 141.07

The USDJPY has announced higher after all and below the low from last Wednesday at 140.71 but stalling ahead of the December 2023 low price at 140.248. The low price reached 140.43. With the price bac... 

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Latest Forex Orders

FX option expiries for 18 September 10am New York cut

It's all about the Fed today, and there isn't anything too significant on the option expiries board to really influence price action in the meantime. There is a decent sized one for USD/JPY at 141.00... 

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