Open trading account 
Yesterday we had the first meeting of Janet Yellen as the new governor of the Fed. As expected interest rates have remained unchanged, while the quantitative easing plan has been reduced to $ 55 billion. The yesterday news was the revision of the forward guidance, in practice, the Fed will not only consider the unemployment rate to decide the start of monetary normalization in the U.S., but a " broad spectrum " of factors.
They then lowered estimates of the GDP 2014 to 3 % from 3.2% . The unemployment rate , however, is expected to fall to 6.3% - 6.1% by year end. After the Fed's meeting there have been strong purchases on the U.S. dollar.
Forex exchange rate EUR/USD has moved away from the top area of 1.3970 , touched last Thursday, and began to show a strong decline in prices up to 1.3809 , its lowest level since almost two weeks. However, if the exchange rate will close this week below 1.38 we could expect an increase downward pressures . At that point, prices could fall even down to 1.37 - 1.3650 .
Let’s wait the incoming news today on jobless claims, home sales and Philadelphia FED manufacturing index to catch a possible upside movement.
They then lowered estimates of the GDP 2014 to 3 % from 3.2% . The unemployment rate , however, is expected to fall to 6.3% - 6.1% by year end. After the Fed's meeting there have been strong purchases on the U.S. dollar.
Forex exchange rate EUR/USD has moved away from the top area of 1.3970 , touched last Thursday, and began to show a strong decline in prices up to 1.3809 , its lowest level since almost two weeks. However, if the exchange rate will close this week below 1.38 we could expect an increase downward pressures . At that point, prices could fall even down to 1.37 - 1.3650 .
Let’s wait the incoming news today on jobless claims, home sales and Philadelphia FED manufacturing index to catch a possible upside movement.