Please somebody explain (on the basis of Fundamental analysis) why there was a big breakout in EURUSD (also in USDJPY) price at around 14:00 EDT on 30 Oct 2013.
(on 15min or 30min chart).
Actual Breakout happened after the FOMC statement.
Thanks Bijoymj !!
Need to know about FOMC,having such a big impact.
Hi,
As a matter of fact Breakout happened a day ago following that pattern,many traders including myself shorted this pair.
Chers
Great!! Did you make around 1000pips in that trade??? Kasravi.
Lol…no feels like it though.
It was all down to FOMC. Anyone who claims that some technical set was the cause clearly doesn’t understand how the markets work
Glad you mentioned that. Of course it is not technicals that move the market,nor is it news. It’s order flow of the market.
The simple supply and demand drives price. News releases rather accelerate such moves where technicals help evaluate value in price.
Some traders rely solely on technicals ,some trade news. Undeniable fact is the trader who makes money over and over again is right.
Cheers