June 24, 2009

Case Study: FOMC Rate Decision

“The pace of economic contraction is slowing,” the Fed said in a statement after its meeting. Treasuries declined after the Fed disappointed investors by not increasing its $1.75 trillion bond-purchase program, and stocks pared gains.

I had a long position on eurusd but I decided to close the position in the european market as soon as I detect the bearish signals from the technical data, more clearly in the hourly chart.