Fed Interest Rate Day - TR#317

Today's the day we've been waiting for. The Fed are expected to cut interest rates for the first time since 2008. What will happen to the Dollar? Well it should fall but will it. With a host of economic data coming out in the Euro zone today and the rate cut perhaps priced in could the dollar go long? I for one will wait and see. From an Elliott perspective we could see a short C wave but all hangs on the FOMC Statement. My advice keep most of your powder dry until we have a better idea of what the market thinks.

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Steve Nixon