Eurusd/gbpusd - page 1729

 
nbtrading:
No news, markets mostly closed, and we get a break up ... We have been shown that the muscles are not in our possession and that we are not in forex in order to earn but in order to watch the show. HFT time is here - traders are obsolete

I am usually not too much convinced that HFT is taking over, but this time it looks like you are right : EURUSD is targeted this time (with a logical hedge USDCHF) If I had to guess, my guess is Chicago FED

 

Guys, stocks are getting crushed. Bubble is bursting

This is just a small sample what will happen to forex as a result of FED playing games with QE. Be prepared for the worst

 

I am not telling that the stocks sell off was not used for this.

But this price has all the footprints of the HFT : triple top, waiting for an extra low volume and liquidity and then the break was made. Idf it was because of the stocks sell off, we wouldn't have a triple top and it would happen at the same time when the stock markets were opened (and non of that happened). I still am convinced that the HFT is in town for quite some time now

 

The GBPUSD has been very quiet, but once it moves it could visit either the 1.6200 or the 1.6000.

 

Still all withing expectations

Level 1.275 (the major resistance held) . Expecting to see more attempts on 1.2750

Files:
eurusd_9.gif  68 kb
 

German ZEW and EU data worse than ever. Expect a whipsaw (as usual). Market makers are not looking for weaker Euro any more

 
nbtrading:
German ZEW and EU data worse than ever. Expect a whipsaw (as usual). Market makers are not looking for weaker Euro any more

You are maybe right. It looks like we are in a ranging period again

 
eurofreek:
You are maybe right. It looks like we are in a ranging period again

Yep. Daily ranges at about 120-130 pips and whipsawing every other day (at least that is so last 78-trading days)

 

EUR/USD range has continued for several days now and it looks like we might have to wait a bit more before it becomes clear whether it will start descending again or not. As I see it, it either has to break above the resistance at 1.2750 – 1.2760 so it can reach its target around 1.2850 or it has to break below the support at 1.2500 so it can continue its descent to the long-term target around 1.2000.

Reason: