Post-FOMC Dampens USD Bulls UPDATE: 9.18

In summary, the FOMC stance on delaying taper schedule has obviously pressured the USD which prompted the European majors including the Aussie Dollar to rally. Outperforming the rest of the currency class, major bulls USD traders and investors sentiments have been dampened by this report.

The USD Index traded to as low as 80.05 basis point where the 79.85 is in sight that could meet USD short-cover and market capitulation for most speculative positions holding short-Cable positions for some time now in particular. Although, price levels on the USD and the rest of the European majors are within their technical over-bought area. And expect daily session correction adjustments. But the relative strength of these majors like Cable is likewise supported by positive fundamentals from the UK sector.

Cable have registered a daily high after the FOMC report @1.6162, with the Euro steady @1.3540 with spill over market price sentiment in the Aisan opening session. With most traders more reluctant to take positions at these price levels leaving uncertainty for retail speculators to take to the sidelines and simply watch how the week's trading sessions would end either on a higher or corrective mode.

Post-FOMC dampens USD Bulls UPDATE: 9.18