The tapering of the USD85 billion will be announced this 18 Sep 2013 during FOMC meeting. Whether to taper or not to taper will sure make the forex market especially those linked with US currency go very volatile. See Forex Factory for schedule release or any of your favourite forex news websites.
The strategy? It is best for the backbenchers to just sit and wait. Do not get in the field today. Maybe tommorrow. But for those explorer and risk loving, this is a good opportunity. Make some bucks here. The previous news about tapering sent the the USD on weakening mode for a while or so. So, this time I think it is going to weaken the USD more. Come let us sell USDJPY, USDCAD, buy EURUSD, GBPUSD and make profit. For me, it would be better to set a selling price 20-30 pips above current price level and take profit at 30-40 pips. Risk reward ratio of 1:2 is applied. Set stop loss according to risk reward ratio.
May the bears rule this time.
