Greenback Mixed at Mid-Session; Traders Remain Non-Committal

The U.S. Dollar is trading on both sides ofthe market as traders remain non-committal about its direction ahead of theFed’s policy statement.

The U.S. Dollar is trading on both sides ofthe market as traders remain non-committal about its direction ahead of theFed’s policy statement.

The key focus will be on the Fed’squantitative easing program. Simply stated, over the long-run, more money willbe better for the stock market and bad for the Dollar. By more money, I mean $1trillion or more. This doesn’t mean the market won’t go down today if the Fedcommits less than $1 trillion to the market. Don’t confuse analysis withtrading.

The analysis may be bullish because of whatthe Fed says, but traders may not want to chase the market higher. Keep yourpowder dry until you can determine your exits and figure out what the market issaying.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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