Per our Skype exchange earlier ...
[2:27:05 PM] JR Crooks: When you're done sending your BSFX trade alerts, can you share with me your reaction on the Fed announcement?
[2:38:40 PM] Jack Crooks: The dollar rocketed higher on the release of the Federal Open Market Committee statement today, as the Fed continued along its path of tapering by a further $10 billion. This seemed to surprise the market; they were setting up for something considerably “more dovish” from new Fed Chairman Janet Yellen.
Does this change the game for the dollar? Possibly, as I still believe the long-term dollar trend is up and many currencies technically appeared overbought against the buck. Over the intermediate-term it seems the game will be about growth and yield again. And maybe the euro is in the crosshairs again as Fed Chairman Yellen looks stronger, and calls for the European Central to do more, and/or cut rates on the risk of deflation, grow louder.
The US dollar is rocking and rolling, now about an hour after the FOMC announcement.
REMEMBER: This move is coming at a critical point in time -- a few of the major currencies have coiled up and are ripe for a big move, as I suggested a week ago.
As our Skype exchange noted, Jack's already making moves in his Black Swan Forex (BSFX) trading service. You can join now by selecting a subscription to the right.