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The Anatomy of Price Action Around a Rate Hike (Part 3)

The Anatomy of Price Action Around a Rate Hike (Part 3)

James Stanley, Senior Strategist

The Anatomy of Price Action Around a Rate Hike

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- This is the 3rd part of a 3-part series around the recent FOMC rate hike.

In part One on Tuesday, we looked at pre-FOMC price action setups.

In part Two on Wedneday, we followed price action during the FOMC rate decision.

This is part three (above): we take what we looked at in parts 1 and 2, and begin to build a plan.

- This is an archived webinar from a previously hosted session on DailyFX. If you’d like to sign up for future webinars with James Stanley, the following links will help you set that up.

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- The continued top-side breakout in USD has been profound, and this has filtered in across the FX-space in a variated fashion, with a pair like USD/JPY showing exuberant gains while that USD strength was a bit slower and weaker to show against a currency like GBP.

- For reactionary setups to yesterday’s USD-moves, we looked at support elements in both GBP/USD and NZD/USD; both of which may have a longer-term bullish theme at-play. Yesterday’s spike of strength in the Greenback has helped to bring both of these setups down towards support; and this could offer continuation-based entries.

- On the side of USD-strength, the move in USD/JPY has been undeniably attractive. After testing the 115.00 level recently, USD/JPY is running up to fresh-highs around the 118.50 level, which was the third target in the most recent short-Yen analyst pick. Should this resistance hold for the near-term and should this USD-move soften a bit, this could open the door for ‘higher-low’ support in the effort of top-side continuation.

--- Written by James Stanley, Analyst for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.