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      Abnormal but not unprecedented USD/NOK move

      USD/NOK ADX(14) has just crossed above the key level 50, emerging from the low 30 levels in the previous session.

      This event is abnormal but not unprecedented. It sets a scene from a positioning perspective where there is a big imbalance in the supply/demand equation, causing price to quickly search a new value zone.

      While speeding up, it leaves behind unfilled sell orders which may cause prices to give back part of the impulsive move. The 200-SMA, now printing above the recent close, could be tested on an upside reaction.

      USD/CHF drops a hundred pips as Fed leaves rates unchanged

      USD/CHF dropped sharply from 0.9720 toward 0.9600, losing more than a hundred pips in less than an hour. The pair is trading at daily lows around 0.9615/20, as Janet Yellen answers questions from journalists.
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      US stocks rise after Fed holds fire

      US stocks jumped to session highs after the Fed announced its decision to keep rates unchanged in light of heightened uncertainties abroad and softer path of inflation.
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