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Range Bound Trading Expected

The traders are slowly returning to their desks after end-of-year festive brakes but the Forex markets are still in the holyday mode. Not much action is expected with most pairs trading in a range bound fashion. The Asian session brought some dollar buying and both Euro and Yen were offered.
I decided to buy both Euro and AUD against US dollar as I expect both to keep appreciating until they achieve higher levels attractive enough to short them later in the week. My other ideas for this week is…
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EURo More Volatile Than Ever

I can't make much sense of euro movements yesterday. Bottoming @ 1.1070 only to hit above 1.1200 in less than 3 hours. Do you guys remember, it wasn't that long ago when euro moved 30-40 pips a day and moves of 80-90 pips were considered "big" ?
This high & unpredictable volatility has depleted my capital yesterday, I recovered some of it but I almost hit a margin call so I need to be more careful. I guess the answer is to trade smaller positions. That's something I have to learn to incorporate…
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ADP employment & NFP correlation.

In the last 12 month ADP employment readings have been quite accurately forecasting Nonfarm Payrolls(NFP). Because today's figure 212K came below the forecast of 220K, this could mean that we might get a lousy NFP number.
If in fact it materializes than it could be an excuse to put temporary breaks on dollar advances and we could see a relief rally in EUR\USD. ADP released today also reassured me that it is the time to go long on GBP\USD. Unsatisfactory NFP would probably give antipodean curren…
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How far up can Euro go?

Suddenly, Euro is rallying today fueled by talks about Greek debt and possible agreement. EUR\USD is well above the 1.1400 as if all the problems were resolved already. But truth is that nothing is resolved, in fact, this is just the beginning of more trouble to come. But market does not want to look that far ahead, not even to this coming Friday brining US NFP.
In my view, by the end of the week all market participants will be selling Euro as NFP will surprise again to the upside.
My prediction
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Trouble in Greece will further impact Euro directions.

Just like a week ago the news headlines were dominated by Greek elections, this weekend there is plenty of speculations in the press about possible new developments. The new government said it will not cooperate with Troika and Merkel stated there wouldn't be more debt cuts for Greece.
As more news(and rumors) emerge in the coming week watch out for unexpected rallies and sudden drops in Euro as the story of Greek debt continues to impact euro directions heavily.
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EURo disregarding economic data!

Euro is completely disregarding European & the US economic data today.
- German CPI much below the forecast
- US initial & counting jobless claims surprisingly good
Instead of falling Euro rallies.
Sometimes the trend is stronger than the economic news but for heaven's sake, has the market already forgoten all about QE just announced last week?
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P22498 avatar
P22498 29 Jan

Вы только заметили?! У этого замечательного рынка своя жизнь, и новости ни чего не решают!!!!!!!!!

P22498 avatar
P22498 29 Jan

Новости дают лишь только толчёк.

iti avatar
iti 30 Jan

dawaj polska gora :)

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Bet my money on Greek elections.

I left my EUR\USD short position running over for the weekend in anticipation of Greek Syriza party claiming a victory in tomorrow's elections.
If the last minute polls were correct and Syriza does win the elections that spells another reason for the Euro to slip even lower. I'm hoping for a big opening gap to the downside and a quick run south during the Asian trading session.
EUR\USD movements for the upcoming week:
1. Down to 1.1111
2. Up to 1.1240
3. Down to 1. 1050 - 1.1020 area
4.
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Bad Day for EURO - Good Day for Me!

In the last 24 hours I nearly doubled my balance thanks to weakening Euro and US Dollar rising even more.
My best trade so far has been EUR/USD, still pending at the moment, around 150 pips gained and counting. I wasn't so lucky with USD/GBP - made more than 60 pips on a short trade but I didn't close it where I should and all the gains were erased(see chart below) . Lesson learned.
Looking forward to another exciting day tomorrow, especially the ECB president Mario Draghi press conference.
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EURO Slowly Bleeding Lower.

I'm in a short EUR/USD trade with a TP set at 1.2369 but I'm second guessing myself now if I should move the TP lower.
US dollar has made a very impressive comeback today and with ECB interest rate decision and the following press conference in less than 48 hours there is a real chance that it will go much lower than the level around 1.2360. And there's NFP on Friday as well predicted to be another dollar fueling event.
For all those of you who are on that trade right now - how low do you thin…
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clau avatar
clau 2 Dez

I do not think stand down 1.2368 by Friday. First I expect a rise of the level 1.2480
What will happen on Friday is pure lottery.

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Buyers Have Left The Building(EURO)

Super Mario delivered Super Fireworks Show in all EURO pairs.
At the moment EUR\USD is trading below 1.4000 level and tomorrow's NFP(largely predicted to be better than expected) are looming in the background.
Unfortunately, my own EUR\USD short position entered during the ECB Press Conference was closed because of a too tight SL
I should've known better but I gave in the excitement of another dollar rally and I lost my judgment.
But tomorrow is another trading day
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