Elliott Wave Forecast: US Bonds Could Turn Into A Correction

I hate to say this again, but major pairs on the FX market place still have a very unclear price action and no direction at all on the intra-day basis. It’s probably “calm before the storm” ahead of highly anticipated FOMC press conference of the last few years, when Bernanke could announce tapering. Statement will be out at 18:00GMT and press conference will be scheduled 30 minutes later. So until then we may not see a lot of price action today. However, when any changes regarding the monetary policy will be announced then expect a huge impact on USD pairs, particularly USDJPY which has a strong relationship with US yields.

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