You Are The Worst dot Com

As expected, the Federal Reserve cut interest rates by 50 bp as expected by most analyst and futures traders. Seems like the market enjoyed the news with the EUR/USD and many USD-based crosses skyrocketing close to 100 pips upon the news release.

According to GlobeInvestor.com, “the cumulative 1.25 percentage point reduction in the benchmark overnight rate in less than two weeks ranks among the most abrupt rate-cutting sprees in the modern history of the U.S. central bank.” Let the continued down trend continue throughout the next couple of months which will surely no doubt add fuel to the Euro’s rise above the psychological 1.5000 mark.

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In trading news, my EUR/GBP pair finally materialized and broke out of its flag formation on the daily charts and i’ll be aiming for the prior high near the 0.7600 region and the full projection around 0.7800. Here is the daily chart and ignore the abundance of trend lines as I got quite bored waiting for this setup to arrive, although I must admit, it does look beautiful.

•50bp Rate Cut in January to 50-50; Carry Trades dead?

•Great Trading day; Profits achieved.

•Melt down in the US = Lots of Volitility + Potential Gains.

•Currency Pairs to Trade this Week.

•Outlook For Trading This Week.