Post FMC Session - Asian Market Supp/Res

• FOMC Interest Rates unchaned at 5.25% expected a dive in the USD that didn't happen that session.
  
• This is the 2nd FOMC rate release in the past few months that had this whipsaw effect, that would have taken out any reasonable stop.
• The dive in the USD later happened during the Asian market session.
• Nearly caught the bottom of this trade, but had 2 bad entries that were placed too far from support lines.
• This was somewhat of a risky trade initially due to the solid bear signals of both price and CCI. The 1st clue that the bottom of the move was near is the S1 support line followed closely by the smooth up was trendline, you could also see the double bottom near support. Would have went short if this didn't bounce.
  
• Weighing the fundamentals, a good move up for Non USD pairs shouldn't have been a major surprise. This was more of a Supp/Res Pivot Cam trade, but it's important to note what a good confirmation trigger the CCI was.
  

Aug 3 2006 - ECB Interest Rate News

• BOE rate news had movement bullish immediately upon release. ECB by contrast accellerated after 8:30am est.
• Even with expected rate increase, the USD was under pressure for the entire morning and continued for the rest of the week.
  

In Range NFP Week

• 1 stop hit, 1 closed early for a small loss. 1 +27 and closed at the top of the BBand.
• Resistance level has held for 2 good days, and don't expect any real moves till this friday.
• Target are going to be no more than +40 intraday
• Entry has to be right at bottom Band, since the EUR is still Bullish. There was an attempted reversal on the Short side early Asia session, but that failed, so with the trend buy the dips is still bias.