Wednesday's FOMC outing showed the Powell Fed to be less model-driven than its predecessors, but the lack of any language confirming four 2018 rate hikes sent the dollar plunging lower.
Squawk / 18 September 2016 at 17:19 GMT
WEEK 38 (19.09.2016 - 25.09.2016) [EURUSD][FUS500][USDJPY]

EURUSD finished the week around projected area, almost touched my target 1.1146. Sadly it happened on thin market, that is why I cannot tell anything about significance of the resistance.
The beginning of next week might not tell us more as any PA could be overshadowed by the incoming FOMC.

In globalised world and interconnected economies divergence in monetary policy cannot last more than short term.
We either get rate hike, economic boom in the US and the rest of the world(that would also mean tapering in Euro zone) or no rate hike, slowing US economy and higher chances of QE expansion in Euro zone.

I see USD weakening in both scenarios as divergence gap in mon pol would decline.

Short Term: Waiting for FOMC
Medium Term: 1.0480-90
Long Term: None

Short Term: Waiting for FOMC
Medium Term: 2080-90
Long Term: Lower limit 1875

Short Term: Waiting for FOMC
Medium Term: None
Long Term: Lower limit 98.60-70


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail