EUR / USD Better off at the casino?

[FringFX]

A clean bear this week.

........and perhaps the next few weeks as well? We'll see

 

[irongoose]

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."

I understood everything perfectly,its best to stay out of the markets when the bankers are talking because the market can do anything as people start trading on their interpretations of what these people say.

In my previous post you will see that I misinterpreted the FOMC meeting statements but it didn't matter because I didn't have any open trades. Funny thing is a few days later The Fed was saying wait we didn't say we where going to stop the bond buying program or do any tapering just yet. But yet the market hasn't returned to pre-statement levels.

Usually these forex events are just like the last one and rare are the ones that the bankers announce anything definite like a interest rate change.

I find trading banker statements is more like gambling then trading. Their are some people who are really good at it but I'm not one of them and choose to watch on the sidelines during these forex events.