a beginner's attempt at the pairs

I think Yen will turn out to be the biggest loser out of main currencies.
The following thread discuss somewhat interesting topic on USDJPY
https://www.elitetrader.com/et/threads/usdjpy-how-high.304663/#post-4372883

USDJPY to test 126 level...but they only talk about from technical analysis perspective...they don't seem to know any fundamental side to support their expectation ...

I need to conduct some secondary research on major currencies now other than EURUSD
 
I am currently developing strategies for optimal set limit/stop orders for both short term and long term holdings for the meeting this week. I will not do any small trades this week to catch the big one :)

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[An interesting article]

EUR/USD is likely to find support at 1.0592 levels and currently trading at 1.0615 levels. The pair has made session high at 1.0679 and hit lows at 1.0597 levels. The euro declined against the dollar on Thursday as the euro was weighted down after the European Central Bank extended asset purchases until the end of next year and ECB President Mario Draghi said cuts to the size of the program should not be viewed as tapering. The ECB said it will reduce its asset buys to 60 billion euros from next April from the current 80 billion euros, and extend purchase by an extra nine months from March. It also reserved the right to increase the size of purchases once again. The euro initially had peaked towards $1.0875 but after the statement, it fell sharply to hit session low at 1.0592, it last traded at $1.0617, down 1.26 percent on the day.

The Federal Reserve is widely expected to raise interest rates for the first time this year when it meets next week, though it is also seen as likely to take a cautious tone on the economy. Traders will be watching for any indications of how many rate increases Fed officials expect in 2017, after Donald Trump’s surprise election as U.S. President on Nov. 8 increased expectations of greater fiscal stimulus to boost economic growth.

Reference:

http://www.econotimes.com/Americas-...non-OPEC-output-cuts-December-9th-2016-442481
 
I have closed all my small positions.
Market opens with gaps and gaps can be seen on upto 30 minute time frames -
EURUSD, AUDUSD, NZDUSD, GBPUSD, USDJPY, USDCAD but not on USDCHF, Gold and Silver ...
I can even observe gaps on some cross like EURGBP strange...

Anyway, I think it is an indication of something big this week but surely it will not be as big as Brexit - because their gap was observed on daily time frame then.
 
Frankly, at this point it's anyone's guess whether they'd hike it or not. I have given up on wondering about it and I have decided I'll just wait patiently.
 
@victorycountry I totally agree with you that the euro was overvalued. Recent statistics from the EU really was not the strongest one. Perhaps it is because "Commitments of Traders" reports were on the short side. The technical picture also indicated the EUR/USD reduction. The currency reached a strong 1.0770-1.0850 area.
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I looked at the trading day again on the younger timeframes (M5-M15). The market gave a good entry point for opening short positions. How do you think, what will happen to the Euro next? There will be the Fed meeting tomorrow. What are the expectations?
 
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