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11/02/2014: Stopped on my EUR/USD long position


It looks like for some reason, markets had not priced in Janet Yellen toeing the line.

Her testimony contains nothing new and nothing that should not have been expected.

With the unanimous voting on from the Fed with regards to further tapering last month, Yellen has said that the Fed will continue to reduce asset purchases at future meetings but that it is data dependent.

Pretty much exactly the line that Bernanke took before leaving office.

Despite this, Euro/Dollar has taken this as a slightly hawkish sign and has been dragged lower.

This has stopped me out of my long position at $1.3639 for a 29.1 pip loss.

I believe that this dip will only be temporary and there will be resumed upside in Euro/Dollar in due course.


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