Hey traders!

Today was FOMC day. So until the release of the Federal Funds Rate prices were pretty quiet. You can see prices trending up prior to the meeting. Then shortly after the release prices sold off and formed the green downtrend. That channel broke and prices retested the lows around the 4384 level. Since this level held prices bounced off it and formed a bigger uptrend. Also, this structure played out by a break and new high. Now prices move sideways and the market is figuring out where to go.

Hope you had a good trading day and didn’t get burned around the news event.