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I agree with the analysis, good point.
15 hr correction followed by a 30 pip impulse, on the EU, certainly not the best move but with these market conditions, 30 pips is better than nothing.
Price is going to be zeroed to daily open before the US unemployment claims. No volume today
Jobless claims had no impact at all at EURUSD. HFTs out of jobs
Price zeroed after all the news
Only NFP tomorrow and greed can move EURUSD now
Draghi promised "unprecedented steps as soon as next week to avert the risk of deflation."
This time he promised. Let see if he really keeps his word
ECB Gets Mixed Inflation Signals as Draghi Considers QE - Bloomberg
a bit of deflation never harmed anyone, except the powers that be and big business
the world could certainly do with some,
wages might of deflated in the "financial crises" but cant remember anything else going down
except 50" plasmas screens, everything else went up, now they want it all up again further
food bills are still up 25-30% in the UK and set to rise further / heating bills up / petrol still up / clothes up etc etc
alcohol is not up though, so can still drink as much as possible
if "someone" was to bump off Draghi would the peasants get some deflation
They are not deflating wages in such conditions : they simply lay people off and transfer the business to places with cheaper labor force. Oh yes, and they raise their own bonuses for making such a smart decision to force those same laid of workers work for any salaray just to survive
All they need the inflation for is to have an excuse to get more money from the slaves
The GBPUSD consolidates around the 1.6900 level, forming what it seems like a pennant on the 4 hour chart. This current formation may act as a continuation pattern, therefore we must be attentive to a possible breakout and possibly a visit of the 1.7000 level.
NFP day. As usual calm before the NFP data. little opportunities to trade - more a betting opportunity to take sides before the data release