In favor of the dollar on the EUR/USD, GBP/USD and similar.
Why?? There was some minor fundamental news releases but nothing major. Can anyone clue me in on the cause of such a movement?
Verbal intervention helped pull the dollar out of European lows as the New York session began. Treasury Secretary Hank Paulson reiterated his preference for a strong USD policy, noting that higher oil prices would likely prolong the economic recovery but that the level of core CPI remained manageable. The Fed’s Plosser noted that the FOMC should raise rates sooner rather than later due to high levels of inflation. Plosser added that the “very accommodative” rate stance must be reversed in order to slow inflation. The IMF’s Lipsky noted that the euro is now overvalued compared to its medium-term fundamentals. Some cautious comments on Asian and European growth were heard. The debate over inflationary outlook and growth continue to jockey for the underlining theme in FX. The slower economic outlook mention by the Japanese cabinet and the German wiseman during European hours helped to take oil lower as the US session began. The German wiseman saw Q2 GDP seen at -0.2% to -0.5% range, but added that positive growth would return during the H2 of the year, adding that he saw no second-round effects on inflation in the Euro Zone and that the slowing economy would keep the ECB from increasing interest rates any further.
See also.
alright wow thanks a lot
I am new here. But I think I should post what I saw, starting early this morning (tuesday-Eastern time zone) gold decided to drop. This might have caused some sellers to become active. On forexhelp.com the 60m chart eurusd shows a volume jump around that time.
Just some thoughts… also does anyone know if these volume indicators are reliable? Would it be hard to track it?
People are irrational and they do irrational things. Keep in mind that it’s only temporary.
Personally I don’t mind, I was gunning for a drop in EURUSD. It went about twice as far past my T/P as I needed it to though!
Personally I don’t mind, I was gunning for a drop in EURUSD. It went about twice as far past my T/P as I needed it to though!
Thats why i dont set T/P (unless i’ll be away for a long period). Still though T/P is all good +pips!