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  • US Indices are mixed today. The S&P 500 and Dow are up while Tech and Small Caps are trading slightly in the red. DOW +0.28% SPX +0.17% NDX -0.12% RUT -0.13% $DIA $SPY $QQQ $IWM
  • The US 10yr Treasury yield has slightly risen from the one month low hit yesterday around 1.53% to currently trade around 1.57%. Yields remain depressed compared to their levels from late March/early April. $USD https://t.co/uJJHXPaOhm
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.60%, while traders in Germany 30 are at opposite extremes with 75.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ABFYsKg28Y
  • USD/ZAR retraces from critical resistance. USD/CHF clings to Fibonacci Support. Get your market update from @Tams707 here:https://t.co/ZHO0NcWrNH https://t.co/6yIThyzgIc
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  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.33% 🇨🇭CHF: 0.32% 🇬🇧GBP: 0.29% 🇯🇵JPY: -0.05% 🇦🇺AUD: -0.24% 🇳🇿NZD: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GqwVh4uET8
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.26% US 500: 0.15% FTSE 100: 0.13% Germany 30: 0.06% France 40: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/B1Zl2feWC7
  • #Bitcoin is trading slightly lower today. The crypto bounced off support at the 60,000 level earlier and is now trading around 61,750. $BTC https://t.co/HfBcZdYwTh
USD Forex Trading Program: 06/19/2013

USD Forex Trading Program: 06/19/2013

Jamie Saettele, CMT, Sr. Technical Strategist

I remain long USDCHF (.9110 stop). The USDJPY stop on longs was moved up to 95.25 last night so I'm flat USDJPY heading into FOMC.

For USDCHF, I'd like to see a move into .9290-.9333 and pullback from there in order to add to the position for continuation to .9470.

AUDUSD longs were also triggered last night (see technicals) so I'm quite involved with AUD (at good prices) heading into FOMC (short EURAUD triggered yesterday....stop 1.4250 and soft target at 1.3600).

I do maintain a bullish bias on USDJPY but enjoy the flexibility of being flat heading into FOMC. React to the reaction later today...a news fade trade may very well present itself. I've got an eye on the 94.43/63 (high volume area) as an area to buy into. Estimated resistance is 96.53/62. Risk control is always paramount but especially during a volatile news event. You've got to give yourself room to be correct but not enough room that you can get hurt.

I get the sense, from conversations through Twitter and in person, that many traders are looking for a final spike into 92.55 (April low) before a more significant retracement of the decline. While respecting the potential for this scenario to unfold, it almost seems too good to be true.

Follow me on Twitter @JamieSaettele

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