• The Fed missed an opportunity to charge the majors to a uniform breakout and risk on a definitive drive
• A lack of surprise in the FOMC still keeps medium-term trend forecasts for pairs like EURUSD and GBPUSD
• Meanwhile, risk trends have been pushed back to their extremes and an SNB rate decision is forthcoming
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Our best opportunity for a clean break and drive for the dollar-based majors and risk trends has come and gone without resolution. Rather than reassure the outcome and market reaction should put us on even higher alert. Now, we have to maintain constant vigilance on diverging interest rate forecasts and extreme speculative positioning themes without the luxury of a particular catalyst with a specific release time to decide our next definitive trend. We look to see how the bigger themes are shaping dollar, EURUSD, GBPUSD, S&P 500 and other benchmarks moving forward in today's Trading Video.
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