Federal Reserve Surprised Markets
TFI Markets | Sep 19, 2013 05:26AM ET
Asian and U.S markets traded higher as the Federal Reserve surprised markets by opting not to alter its $85 billion per month bond buying program (quantitative easing). Fed “decided to await more evidence that progress will be sustained before adjusting the pace of its purchases, “it said in a statement. U.K Retail sales, Unemployment claims, existing home sales and Philly Fed manufacturing index in the U.S are the major news for today.
Trade Idea
EURGBP
The trend remains down for the pair. A 4H break and close below 0.8350 targets 0.8295 alternative immediate resistance is seen around 0.8410 and a clear break that level targets 0.8455.
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