I am not sure what all this means for our trades such as cocoa or soybean oil but we need to be mindful of these events looking at our euro and gold positions we still hold. We need to be looking at the markets differently now. The dollar is on day 4 of a blood bath which usually lasts 5-7 days. This means this event could conceivably bottom the same day as the FOMC meeting.
Probably the first trade we will make once we have a swing low in the dollar will be to short the euro. This was the first time I had ever traded the euro and buying the euro was really one of the easiest trades I ever made. I have mentioned before that the first move out of an intermediate cycle low is the most powerful of the intermediate cycle (except for blow off euphoric moves like metals are having now). Once the dollar has a swing low, I think we can make a very nice trade shorting the euro.