Interest rate is one of the major fundamental instruments that have a track record of influencing the financial market. Nearly all traders are waiting for the FED chair to unveil the interest rates report today to help them define their next trade entry.USA interest rates stand at 5.25% whereas investors are anticipating a hike by 25 basis points to 5.5%.
Since morning dollar has been thrashed by other major currencies whereby USDJPY has dipped from 141.330 to 140.350. The chart pattern shows a strong bearish trend ahead of the FED decision.
My opinion: It’s good for intraday traders to exercise a lot of caution to avoid being trapped when Powell will be unveiling the interest rate decision.
[caption id=”attachment_93352″ align=”alignnone” width=”300″]
Screenshot (48)[/caption]
