All Eyes on FOMC today as Investors are spooky with Cyprus situation after parliament rejected bailout proposal anyways there are very less probabilities that Fed Chairman will say something novel although markets are very positive about it after last testimony he confirmed about easing will be ON till unemployment rate doesn't decrease to comfy level. We also have to bear in mind that with the impact from the sequestration yet to be felt in the months ahead, the Fed is currently not in a position to start tightening. Thus the general expectation is that the current monetary policy will remain unchanged at least until the end of the year.However Cyprus news helped our trade to achieve target especially on selling SnP500 and Dax though it's difficult to say that markets are done with highs for a while.
Following are trade calls for today,
Following are trade calls for today,
- Buy Silver at 28.80 stop below 28.45 target 29.65
- Sell Crude Oil May at 93.30 stop above 93.70 target 92.20
- Sell Nasdaq at 2793 stop above 2805 target 2770
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