So I am comparing todays rate of eur/usd @ 1.2656 to yesterdays rate of 1.2417 at around 2:19 pm est. I am shocked to see this difference and I haven’t had a chance to review any info or charts …looking for some input from you guys…sorry if I posted in the wrong category I am also new to forex trading. Thanks

[B][I]Euro bail[/I][/B] out! some people made mad pips yesterday if they went long in almost any Eur, GPB, CHF,etc… pair.

It’s incredible about 240 pip movement on this pair.

It was because of the “hype.” People believe that the Euro will be saved along with many others. If you hadn’t already, you should go through the school of Pippin’! It explains a lot of stuff for beginners-such as the influence of news on pricing.

If you want to have fun, just go to Bloomberg currency news and read whatever stupid reason they will give for the movements. Those who actually believe the Bloomberg’s justifications must be sereiously intellectually challenged. Sometimes they can’t find not even a remotely plausible reason for a big move and then they will just pretend it isn’t happening, like yesterday’s JPY strength :smiley:

In any case, today’s currency ratings from the strongest to the weakest was AUD-NZD-EUR-CHF-CAD-GBP-USD-JPY. So it’s more of a USD weakness rather than an EUR strength.

I have no idea why and I don’t care either.

Thanks for the advice, I have been looking into forex for a long time just recently went into it hardcore. I haven’t had a chance to follow the markets and update myself on news lately. Maybe you can point me to a good source of news topics, global or national. I will take a look at what you recommend. Thanks

hm… it is hard to find good reliable news. I honestly went on google news and read it from there.

News moves price no question. Perhaps another reason not to get too close to price action by following say the 15m or 1h tf and taking trades off OB or OS within normal perameters? If you pull up the daily tf close, then as a ‘position trader’ you might well consider pa is now OB. Daily median is 2550. Sometimes it pays to stand WAY back on a hill and watch the bigger picture. :wink:

I was in a trade at the time. Got lucky! My target was 20, I picked up 135! Gotta love it when that happens…

Lucky is good, Knowing why your in is better. :smiley:

Most definitely true!