With incredible volatility in the market this week, Forex traders are scrambling to keep pace with the rapid movements this week.  We began the week with a bit of strengthening in the dollar, only to see the rally end on Tuesday, with the European majors making major gains.

With the Fed Rate expected to remain the same today, many traders are torn, as a lower rate will work to curb inflation, but at the same time lead to lowered interest in the dollar.

Across Europe, consumer sentiment has made recent improvements, even though the actual retail sales and unemployment numbers have slightly worsened, leading many to believe this rally may be short lived.

The next two days will be pivotal with the Fed Rate announcement, unemployment claims numbers, and testimony from Fed Chairman, Ben Bernanke. Be sure to watch the charts, and prepare your strategies, as it's likely current volatility will continue through Friday.

For MetaTrader 4 users utilizing Expert Advisors or automated strategies, exercise caution by keeping an eye on the markets while your strategies are running, as the coming news releases can lead to aggressive spikes on the charts.