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FOMC Not Looking Good for Powell PLUS: Currencies, March – May Meal Spread, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on January 28th, 2026

Posted on by Cannon Operations
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FOMC Tomorrow

Chairman Powell is not the only one under pressure

By John Thorpe, Senior Broker

At-a-Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Feb(#GC)

 4938.13 5054.47 5120.83 5237.17 5303.53

Silver (SI)

— Mar. (#SI)

 98.80 105.34 109.45 115.99 120.10

Crude Oil (CL)

— Feb (#CL)

 59.28 60.90 61.77 63.39 64.26

 Mar. Bonds (ZB)

— Mar (#ZB)

 114 28/32 115 4/32 115 15/32 115 23/32 116 2/32

Chairman Powell is not the only one under pressure – FOMC Tomorrow

fomc

The US Dollar is under pressure due to fading interest rate support. Geopolitical risks rising.

Markets expect the federal reserve to continue, or at a minimum, be in a cut cycle. Tomorrow’s Interest Rate decision is expected to be a no cut event for this meeting (according to the CME Fed watch tool).\

FOMC

The language of the meeting and the presser to follow is EXPECTED to tell the tale of continued, future reductions…if the language doesn’t echo expectations? Watch out.

Currency – Dollar, Euro, Yen

By cutting rates, models tie currency value to interest-rate differentials pointing to a weaker U.S. Dollar versus the Euro and Yen.

Trump threats and investigations into Chairman Powell in the open, (rather than other Presidents quietly going after fed chairs in the past) have a yet to be quantified, confidence undermining the fed’s independence. This also tends to be negative for the U.S. Dollar.

U.S. Naval assets in the middle east mobilizing, leads to additional speculation, increasing investor caution as geopolitical risks raise the aura if an Iran strike. Domestic political tension and unrest do very little to calm the dollar bears.

From a technical perspective, the dollar has broken key support levels and testing support in the 96 area.

The On again off again tariff edicts create less stability in the safe haven dollar asset and in some circles, it has been reported the US Government may” enjoy” a weaker dollar to stimulate exports and assist the strengthening of the yen. Japan is an important geopolitical partner in their area of the globe.
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March – May Meal Spread

The March – May Meal Spread satisfied its third upside PriceCount objective where we are seeing a clear reaction with the potential for a key reversal out of a new high. At this point, IF the chart can resume its rally with new sustained highs, we are left with the low percentage fourth count to aim for at a 3.60 inverse.

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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk.

Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for January 28th, 2026
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British Pound Waiting for The Scottish Vote, Economic Reports & Levels 9.19.2014

Posted on by Ilan

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

British Pound waiting for the Scottish Vote for clues on next move

On Thursday, after a 307-year-old union with England and Wales, Scottish voters age sixteen and over will decide in a referendum that will ask the question: Should Scotland be an independent country?

Most opinion polls show more Scots want to remain in the U.K. than leave it, but enough voters are undecided to swing it either way.

The “Better Together” campaign says Scotland should remain part of a larger country that has a greater say in the world and can better withstand financial shocks. Voting “no” to secession would also ensure it keeps the British pound after the U.K. government ruled out sharing the currency with an independent Scotland.

From the technical perspective I did get a possible buy signal ( see the blue diamond in the chart below). My diamond indicators are an output of an extreme overbought/ oversold along with price action that suggests a good counter trend move. In this case we saw an extreme sell off starting July 15th , falling over 11 points, I think if the market can take the 162.65 level , the door is open for a move up to 164.81 and 166.14!

 

BP6 - British Pound (Globex), Equalized Active Daily Continuation : Heikin Ashi
BP6 – British Pound (Globex), Equalized Active Daily Continuation : Heikin Ashi

 

One thing for sure, volatility may be QUITE HIGH and it’s really hard to tell the immediate affect. Make sure you have a solid money management/ risk plan in tact!!

Read the rest of the analysis at:

http://experts.forexmagnates.com/british-pound-waiting-scottish-vote-clues-next-move/

Continue reading “British Pound Waiting for The Scottish Vote, Economic Reports & Levels 9.19.2014”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.