We re-iterate our comments from last night. (See previous posting at www.backbayfx.com/blog.php)
The Fed did comment that they forsee rates staying low for quite some time. That statement was enough for us to buy USD by shorting EUR/USD. Our next target level is 1.3680. See below graph of daily price action for EUR/USD overlaid with Fibonacci lines.
Stay Nimble!
Stephen Leahy
Back Bay FX Services, LLC
www.backbayfx.com
