USD Dollar Update after FOMC meeting

The market reaction after the FOMC decision has seen the dollar mostly higher but also mix against some currencies. Stocks are higher. Yields are higher crude oil is higher.

EURUSD.

The EURUSD fell below the low from last week's trading at 1.122662 a session low of 1.12208, but snapback higher to 1.1253 before moving back down. The current price is trading at 1.1234. Moving back below the swing lows from November 30 at 1.1233 and the swing low from December 7 at 1.12283 will be needed to increase the bearish bias.

GBPUSD:

The GBPUSD fell down to a low of 1.31704. That was near the low from December 9 as well. The price bounced higher off of that level. The post FOMC decision high came in at 1.3215.

USDJPY:

The USDJPY is rising to a new session high as Powell press conference begins. The price has moved above the 50% retracement 114.019, and moved into a swing area between 114.20 and 114.307.

In other markets:

• Dow was down -37.27 points just before the decision. It is currently down -2 points

• S&P was down -6.29 points just before the decision. The index is currently up 1.37 points

• NASDAQ was down -86.75 points just before the decision. It is currently down -19.14 points

• Russell 2000 was down 11.25 points just before the decision. It is currently down -2 points.

Crude oil is currently trading at $70.90. The price was at $70.47 before the decision

IN the US debt market:

• two year 0.675% before, now 0.701%

• 5 year 1.245% before, now 1.273%

• 10 year 1.448%, now 1.463%

Chris

www.thetradingmentors.com