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  • A noticeable move lower in EUR/GBP as the Bank of England strikes a slightly more hawkish tone $EURGBP
  • $SPX Daily. . . Before & After #FOMC . . .
  • A big move in the US 10-year Treasury yield following yesterday's FOMC meeting. Resistance around 1.38% was broken easily, with the 10Y settling around 1.43% $ZN $ZB
  • The Bitcoin plunge turned off near-term downtrend support and while we could see more recovery in the short-run, the risk remains lower while within this formation. Get your $btc market update from @MBForex here:
  • The Central Bank of the Republic of Turkey ended its monetary tightening cycle will a surprise 100-bps rate cut on Thursday. Get your market update from @CVecchioFX here:
  • Risk on sentiment has buoyed AUD/USD, with the cross trading back above 0.7300 $AUDUSD
  • The morning after the Fed has produced some robust moves in markets, with both stocks and bonds putting in a notable leap. Get your market update from @JStanleyFX here:
  • Gold trades back down to $1,750 as US real yields tick higher $XAUUSD #Gold
  • Canadian Dollar Price Forecast: USD/CAD Snaps Back to Key Support $USDCAD
  • RT @BrendanFaganFx: 77 counterparties take $1.352 trillion at Fed's fixed-rate reverse repo $USD $DXY


Thomas Long, Course Instructor

Since uptrends are defined by a series of higher highs and higher lows, noting key lows keeps me aware of the big picture. I see the next level of support being the 1.47997 low of November 20th. A move down through that level would confirm the changing sentiment that was first noted when the high at point B fell short of the high at point A. However, that really wouldn't mean a trend change to me. The next support level is the 1.46255 low of November 3rd. A move down through that low would still not mean a trend change to me, but it would certainly be a good hint. A further move down through the 1.44799 level would most likely confirm a change of trend, but we are a long way from that level.

In the meantime, I would continue to look for buys as long as the market stays above the 1.4800 level. A move down through that level would be a signal to hold off on opening any new trades because of the short-term uncertainty.



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