I think your right, let’s see whether it will be another surprising day for all of us?
Only thing surprising about what happened is that people where looking long. To the rest of us well we made a killing. Speak for yourself not the rest of us!
You know I’m short eur/usd. But we can agree today was “surprising” at the rate the pair dropped. And even you yourself said in my thread on eur/usd and usd/jpy you thought eur/usd was about due for a pullback. As did I. But we stayed short and it paid off. Lesson: sometimes it’s best to do nothing at all and let your trades run…
Wise words!!
EURUSD fell hard during yesterday session as the European Central Bank surprised cutting all three interest rates and announcing a bond buying programme. The market looks as if it is going to continue selling, as the length of the candle is pretty drastic 227 pips the worst fall since the start of the Year. On top of that, we broke below the 1.30 level and the market is going to go to the next significant support level, the 1.28 handle.
Well, that was very dramatic to watch. I didn’t expect it to fall this much. Personally, I think it’s headed for 1.2700, though we might see some correction on the way.
I think it will be wise to stay away from the market today after yesterday’s drop the market will be unstable. have a great weekend everyone
Here are some interesting forex charts I found from trader mc public charts. According to this trader EUR/USD should bottom next week:
Or it could push right through. The price should, next week, next week, this week, next week. Dangerous to make asumptions
The Dollar experienced a mixed trading against the G10 peers during the morning of Friday here in Europe.
Was positive against the SEK and NOK, negative against AUD, CHF, EUR and JPY, and virtually unchanged against the CAD, NZD and the GBP
bewayopa | Trading Ideas
Yup. As a speculator it’s really simple if you break it down. We don’t move the markets. So if you want to make money, go with the trend. If you want to lose money, guess tops and bottoms and reversals. I chose to make money. If the trend switches long then I go long. If it’s a false trend change and the short trend resumes, I go short. Minimize risk exposure to the inevitable whipping around you’re gonna go thru in the market and let the winners ride.
Well said, we can agree yesterday was ‘‘surprise’’, nothing wrong with saying that.
ECB is not acting is reacting and Mr Draghi is not finding solutions.
That sums it up perfectly.
EURUSD initially tried to rally during Friday session, but found resistance at 1.30 level and ended up forming an inside day, which suggests that the market is consolidating and getting ready for another push downward. So selling this market is the only thing that can be done.
EUR/USD appears to be sleeping at the moment, but I think we should see some temporary pullback later today or sometime tomorrow. That said, I think that once that’s done it will head for 1.2700 which is a resistance level visible on the monthly filter chart. The question is whether it will fall even lower. Time will tell, I suppose.
You are right victoria the market today is so cold as we see.
I think that EUR/USD is going to end soon a wave 3 and goes up into a corrective wave 4.
Got a chart we can see to back that statement up. For a thread on technical analysis there’s a lot of opinion and not much analysis. Still a long way to go b4 the 61.8 Fib Level.
I think you are right, and we have a couple of news releases this week from Unemployment claims to Retails sales which may send this already under pressure pair to 1.2800.