… Looking forward, if the economy evolves broadly as expected, policy will move over time toward a more neutral stance. But we are not on any preset course. The risks are two-sided, and we will continue to make our decisions meeting by meeting. As we consider additional policy adjustments, we will carefully assess incoming data, the evolving outlook, and the balance of risks. Overall, the economy is in solid shape; we intend to use our tools to keep it there.
AT ALERTS
The following video shows 3 AT Alerts that hit their targets today.
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GBPUSD Daily
Supports : 1.33650 , 1.33450 & 1.33100
Resistances : 1.34250 , 1.34350 & 1.34950
Cable is struggling for 5 days already with the top and using some Thumb analysis we can expect start of a correction, unless it takes out today 1.34350.
However, Close tonight above 1.33850 would leave an opportunity for one more leg Up and test of 1.34950.
A look at the day ahead in U.S. and global markets from Mike Dolan
The final day of another punchy quarter for U.S. stocks has proven a more volatile affair overseas: China’s stellar stock recovery has added another whopping 8% pre-holiday, while Tokyo’s swoon on the new Japanese prime minister jarred in the other direction.
For Wall Street, Federal Reserve Chair Jerome Powell tees up in Nashville later to give his latest steer on the unfolding Fed easing cycle, with soothing August inflation numbers as a welcome backdrop. The rest of the week looks set to be dominated by soundings on the labor market, the upcoming earnings season and the start of the election-edged final quarter.
To keep it simple
1) Identifying the side to trade is more than half the battle in putting on successful trade
2) The side most vulnerable is the one where there are market stops at risk
It is as simple as that although with the caveat that there are no guarantee in trading, only looking for ways to out the odds on your side.
USDJPY 4 HOUR CHART – FIBOS
You need to give some leeway to chart levels given the volatility in this currency, such as the brief break of 141.70 that failed to follow through. 142 is pivotal on downside, 142.95 is minor chart resistance.
The sharp down move Friday-Monday has left little in the way of key nearby resistance so let’s take a look at retracements as potential levels USING OUR FIBONACCI CALCULATOR
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