Video Update: 14 March – FOMC on Tuesday

Welcome to the video update for Monday, March the 14th.  Tuesday at 2:15pm est is the FOMC announcement.   First chart is the 30 year 984 tick bond futures where we are watching the ab=cd pattern for support.  D target comes in at the 120 area.  If price drops below 120 then look for support at the 1.27 fib extension.

Next up is the EUR/USD pair weekly chart where last week price made a new high but closed lower than the close of the previous week.   Trader Rick explains the various possibilities that could happen here.  Triangle?  Lower high?  What about the 60 minute chart?  Bullish?  Watch the buy zone IF price retraces and finds support at the lower keltner.

Trader Rick looks at the ES starting with the weekly chart where last week was the lowest close since the last week of January.  Note how price dipped down to the rising lower keltner line.  The ab=cd pattern which has bullish implications can be seen on the 60 minute chart and on the 2 bar per day chart.  Worth watching!

Good trading!

Tags: 1.27 fib extension, ab=cd pattern