Last night, the FED raised the US interest rates by 25 basis points to 1.75% from 1.50%.
Typically we would see the USD strengthen after such a rate hike.
However, since lifting off from 0% interest rates in the recent couple of years, the USD weakened with each of the rate hikes.
Since the start of 2017, the USDSGD exchange rate has fallen from 1.45 to under 1.31 recently.
This isn’t news though, the rate hikes have been expected for a long time.
If you’d like to know how to trade when such volatile events are unfolding,
Market still sideways for a while.
Staying light for now and hedged.
Since triggering, price has been rather side ways.
Not ideal that price tried to break to new highs but fell back down again.
However, the market is going sideways for now afterall, so we can’t expect smooth trendy movements yet.
Still waiting on a valid signal from here.
Looks like there is a lot of room downside for this.
Looks interesting for a long.
Price made a strong move higher, now coming back down to test the consolidation before the move higher.
We can get in here or wait for the next entry signal.
If you’d like to know when to keep your portfolio light,
Good trading folks!