The market still looks like it’s digesting the news from FOMC. Dollar’s still up and down with no sense of real direction. My forecast for 2016 is still bullish Dollar just because theres not much other things to invest in. Although I’m not sure if the bulls will kick in anytime soon, I’m going to be very cautious on trading till after New years. Volatility will be low and traders are probably more worried about the holidays rather than trading.
I’m still holding onto a couple positions open, including long GBP/USD. GBP/USD has been in a nice range and should expect a bounce from the bottom channel. I’ll be hedging my long GBP/USD with a long USD/JPY and short EUR/USD trade. Let’s see what the future holds for Dollar in 2016.
GBP/USD hitting bottom channel, playing a bounce here.