Eurusd/gbpusd - page 1507
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and there goes the short term buy signal (EU M15) to hopefully set up for a larger TF (H4 and D1) sell signal
This thing is flatlining for the last 14 hours. It is making a kind of a record now. Only EURCHF was like that when Swiss central bank was heavily controlling the exchange rate. Who is controlling it now? Free market? Why yes
I don't think that it (EURUSD) is controlled. I simply there is a lack of interest to invest in forex when they can invest in stocks and have a sure gain (FED is going to find other way to push the stocks upper - they already are revoking the rate hike statement from Yellen)
Draghi speaking today and the market is already pricing in what he is going to tell
Level 1.38 still proving to be a strong support. But they are trying to price in what Will Draghi say
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Important intraday range to be closely watched is seen between 1.6550 – 1.6450. A clear break above 1.6550 could trigger further bullish pressure testing 1.6600 or higher. On the other hand, a clear break below 1.6450 could trigger further bearish pressure testing 1.6400 or lower. My overall technical outlook remains neutral.
And now Draghi. But this time they are afraid What is he going to say
Mario told his usual "ECB ready to take additional action if needed" blah-blah
As I remember he tells that all the time and he told it at least 10000 times and they did nothing till now. Zip. Nada
By now only Draghi does not understand the problem : nobody believes him any more. Whenever he tries to talk down the Euro, traders are using it for dip buying. When someone repeats the same lie so many times it is only natural that nobody is going to believe him
One more Asian session with no trend at all. Becomes useless to try to trade these hours
Lets face it, Draghi will keep talking as long as he is the president. But until the ECB actually implements something, am gonna avoid trading while he talks till further notice.