Welcome to the video update for Wednesday, June the 23rd. Today at 2:15pm est will be the FOMC announcement of any interest rate changes. My recommendation is to stand on the sidelines when the announcement is made, then be patient and wait for a clean setup. First chart is the EUR/USD pair 60 minute chart. Note the support level. If this level holds then see what to look for next. A measured move is a possibility.
On the daily S&P cash chart, see what the two patterns Trader Rick is watching for. One has bullish implications and the other has bearish potential.
Trader Rick looks at the 30 minute ES chart and note where the overhead resistance area is, especially at the time of the rate announcement.
Good trading!
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Tags: measured move
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