{"id":66001,"date":"2015-01-05T07:31:28","date_gmt":"2015-01-05T12:31:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=66001"},"modified":"2015-01-05T07:39:37","modified_gmt":"2015-01-05T12:39:37","slug":"fomc-minutes-on-wednesday-may-end-the-usd-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/01\/fomc-minutes-on-wednesday-may-end-the-usd-rally\/","title":{"rendered":"FOMC Minutes On Wednesday May End The USD Rally"},"content":{"rendered":"<div id=\"inves-1694778020\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 5, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by: <a href=\"http:\/\/growthaces.com\">http:\/\/growthaces.com<\/a><\/p>\n<p><strong>GROWTHACES.COM Forex Trading Strategies:<\/strong><\/p>\n<p><strong>Trading Positions<\/strong><\/p>\n<p><strong>EUR\/USD: <\/strong>long at 1.1915, target 1.2060, stop-loss 1.1875<\/p>\n<p><strong>GBP\/USD: <\/strong>long at 1.5255, target 1.5480, stop-loss 1.5175<\/p>\n<p><strong>USD\/JPY: <\/strong>long at 119.50, target 121.80, stop-loss 119.70<\/p><div id=\"inves-2832142997\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong>USD\/CHF: <\/strong>short at 1.0085, target 0.9960, stop-loss 1.0120<\/p>\n<p><strong>EUR\/GBP: <\/strong>short at 0.7850, target 0.7700, stop-loss 0.7840<\/p>\n<p><strong>EUR\/CHF: <\/strong>long at 1.2025, target 1.2090, stop-loss 1.1995<\/p>\n<p><strong>AUD\/NZD: <\/strong>short at 1.0530, target 1.0320, stop-loss 1.0580<\/p>\n<p><strong>AUD\/JPY: <\/strong>long at 96.80, target 99.00, stop-loss 96.10<\/p>\n<p><strong>GROWTHACES.COM Pending Orders<\/strong><\/p>\n<p><strong>USD\/CAD:<\/strong> buy at 1.1660, if filled target 1.1990, stop-loss 1.1580<\/p>\n<p><a href=\"http:\/\/growthaces.com\">More forex analysis and trading strategies<\/a><\/p>\n<p><strong>EUR\/USD: FOMC Minutes On Wednesday May End The USD Rally<\/strong><\/p>\n<p>(long for 1.2060)<\/p>\n<ul type=\"disc\">\n<li><strong>Boston Federal Reserve Bank President Eric Rosengren<\/strong> repeated his call for the U.S. <strong>central bank to take its time in establishing more normal policy<\/strong> after years of stimulus to boost the economy. While the Fed is widely expected to begin its lift-off sometime in the middle of this year, officials like Rosengren have <strong>advocated for a slow and steady process<\/strong>. Rosengren said that the last time the Federal Open Market Committee raised rates after a recession in June of 2004, the unemployment rate was at 5.6%, below the current 5.8%, and inflation was at 2.8% \u2013 well above its current reading of 1.2%.<\/li>\n<li><strong>The Sentix index tracking morale among investors and analysts in the euro zone rose to 0.9 in January from -2.5 the previous month<\/strong>. Sentiment in the euro zone improved in January for a third month running as investors and analysts shrugged off uncertainty over new Greek elections and their view of longer-term economic developments reached its most optimistic level in six months. A Sentix sub-index of expectations for the euro zone\u2019s economy recovered to 13.5 in January from 12.0 the previous month, while investors\u2019 perception of the current economic situation improved to -11.0 from a previous -16.0.<\/li>\n<li><strong>The EUR\/USD broke below 1.2000 and fell to 1.1876, its lowest since early 2006.<\/strong> The nearest support level is 1.1860, the monthly base from March 2006. <strong>The traders are waiting for U.S. Federal Reserve minutes on Wednesday.<\/strong> We see increasing expectation for the Fed to raise interest rates soon, but <strong>less hawkish Fed minutes on Wednesday may stop strongly bearish trend<\/strong>. <strong>We expect also slightly lower reading of U.S. ISM non-manufacturing on Tuesday, which would be also negative for the USD bulls<\/strong>. On the other hand, we see also rising political concerns ahead of Greece\u2019s general election that are negative for the EUR bulls.<\/li>\n<li><strong>Our forex trading strategy for the EUR\/USD is to get long at 1.1915 in anticipation of corrective moves. We set the target at 1.2060.<\/strong> <strong>After a short correction in the days ahead we expect a continuation of downward trend until January 22<\/strong>, when the ECB meets to make monetary policy decisions.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/eurusd_05012015.png\" alt=\"EUR\/USD Daily Chart\" width=\"500\" height=\"350\" \/><\/p>\n<p>Significant technical analysis\u2019 levels:<\/p>\n<p>Resistance: 1.2006 (hourly high Jan 5), 1.2109 (high Jan 2), 1.2124 (10-dma)<\/p>\n<p>Support: 1.1860 (low March, 2006), 1.1826 (low February, 2006), 1.1800 (low January, 2006)<\/p>\n<p><strong>GBP\/USD At Lowest Levels Since August 2013 <\/strong><\/p>\n<p>(long for 1.5480)<\/p>\n<ul type=\"disc\">\n<li><strong>Britain\u2019s construction PMI fell to 57.6 in December from 59.4 in November, the lowest level since July 2014.<\/strong> <strong>The reading was still comfortably above the level of 50 pts<\/strong> which denotes growth in the sector\u2019sactivity. The weakest sector was civil engineering, which reported an outright fall in output for the first time since May 2013, while the rapid rate of growth in house-building eased slightly to its lowest since June 2013. The survey also showed signs that wages might be starting to rise in the sector, with rates paid to subcontractors growing almost as rapidly as November\u2019s record-high pace.<\/li>\n<li><strong>Prime Minister David Cameron<\/strong> said on Sunday he would like to <strong>bring forward a planned referendum on Britain\u2019s membership of the European Union from 2017<\/strong> if his Conservatives win a national election on May 7.<\/li>\n<li><strong>The GBP\/USD fell to its 17-month low of 1.5185 in Asian trading. We expect corrective moves on the GBP\/USD in the days ahead. We got long at 1.5255 and set the target at 1.5480. We expect slightly lower U.S. non-manufacturing ISM index tomorrow and FOMC minutes on Wednesday that could disappoint traders expecting interest rates hikes soon.<\/strong><\/li>\n<li><strong>The EUR\/GBP rebounded and we got short again at 0.7850, the target for this position is 0.7700.<\/strong><\/li>\n<\/ul>\n<p><strong> <img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/gbpusd_05012015.png\" alt=\"GBP\/USD Daily Chart\" width=\"500\" height=\"350\" \/><\/strong><\/p>\n<p>Significant technical analysis\u2019 levels:<\/p>\n<p>Resistance: 1.5336 (high Jan 5), 1.5507 (10-dma), 1.5584 (high Jan 2)<\/p>\n<p>Support: 1.5185 (hourly low Jan 5), 1.5104 (low Aug 2, 2013), 1.5080 (low Jul 17, 2013)<\/p>\n<p><a href=\"http:\/\/growthaces.com\">More forex analysis and trading strategies<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by: http:\/\/growthaces.com GROWTHACES.COM Forex Trading Strategies: Trading Positions EUR\/USD: long at 1.1915, target 1.2060, stop-loss 1.1875 GBP\/USD: long at 1.5255, target 1.5480, stop-loss 1.5175 USD\/JPY: long at 119.50, target 121.80, stop-loss 119.70 USD\/CHF: short at 1.0085, target 0.9960, stop-loss 1.0120 EUR\/GBP: short at 0.7850, target 0.7700, stop-loss 0.7840 EUR\/CHF: long at 1.2025, target 1.2090, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-66001","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/66001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=66001"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/66001\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=66001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=66001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=66001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}