EUR / USD Better off at the casino?

[Pharaoh]

Fasten your seatbelts. Turbulence ahead.

 

[irongoose]

How true it is to try and stay flat on trades when either Bernie or Draghi is speaking, I never would have expected a 300 + pip move down in the price of the Eur/Usd yesterday. I would have expected 70 - 100 on the US news but not this!

Once again rumor of tampering has moved the dollar but the market seems to have a bit of amnesia because two voting members of the FOMC have already stated that they would need to see 200,000 jobs growth per month for 4 month in a row before they'd start easing and that was always the target.

I'm just wondering if this isn't the last pump and dump effort on the dollar for the season.

By the way Unemployment Claims have risen from 336K to 354K.

 

[FringFX]

It is pretty good advice to stay on the sidelines when people like Bernanke is going to speak.

alternatively, it is also a good opportunity to trade, assuming you know what you are doing.

 

[Spaceman]

alternatively, it is also a good opportunity to trade, assuming you know what you are doing.

I am not so sure. Spreads are wider anyway, what is not good for any strategy. Besides no one can predict how the trend will go. So my choice is taking a break while such news are coming.

 

[irongoose]

The Eur/Usd has become as unpredictable as a wild beast! I believe the money tree is being shaken on purpose by market manipulators, I still feel after the FOMC meeting that this price movement made no sense what so ever.

But I was wrong and that is why I stay out of the market during these events.

Unless I hear for certain a interest rate is changing or something like that I don't trade.

 

[FringFX]

I am not so sure. Spreads are wider anyway, what is not good for any strategy. Besides no one can predict how the trend will go. So my choice is taking a break while such news are coming.

That's exactly why I qualified it by saying "assuming you know what you are doing." Spreads widen for a bit of time only, so a trader can jump in on a valid move shortly. (pun intended )

 

[willforex]

It is pretty good advice to stay on the sidelines when people like Bernanke is going to speak.

alternatively, it is also a good opportunity to trade, assuming you know what you are doing.

Agree with you mate. 50/50 chance from these kind of situations.

But need to get the right touch.

 

[irongoose]

Agree with you mate. 50/50 chance from these kind of situations.

But need to get the right touch.

That is the problem, 50/50 chance isn't good enough and like I posted previously I never expected a 300 + move after the FOMC meeting because I understood all along that there wasn't going to be any tampering until the Fed saw 200,000 jobs growth for 4 months in a row. But the market forgot that during Bernie's meeting and heard what it wanted to hear

And the worse part was the media piled on the BS afterwards adding more fuel to the fire.

It makes me wonder if we aren't in for a huge reversal here sometime this week especially if the US data doesn't meet exceptions. And I mean HUGE!!!

 

[Whitesnake]

A clean bear this week.

 

[FringFX]

That is the problem, 50/50 chance isn't good enough

you misunderstood his post. when he said "50/50 chance...", he was referring to my first sentence where I mentioned "stay on the sidelines when people like Bernanke is going to speak."