not half obvious a big move is coming given the chart and the EU summit , key reference levels marked . Trends on differnet time frames polarized on all counts . almost not worth trading smaller time frames now given the range , breakout will give clarity .
earlier today: â¬/$ fell after a senior EU Official said giving the EU permanent bailout fund a banking license off the table. BoE Policy Left Unchanged (repo rate 0.50%) Asset Puchases steady at GBP 275 bln ECB Refi Rate cut 25bps to 1.00% considering the recent price action I remember there is a saying "The news doesn't make the market, rather the market makes the news"...
everyone is waiting for Mario Draghi today. it's interesting that everyone is expecting the market news for decisions beneficial to them. more of my friends long EURUSD now but not sure whether it would last long.
congrats buyers i mean ECB and SNB above 1.34 again. you're lucky to rule european nations who are polite enough not to chase you with axes and baseball bats
yikes, you know... its such a pleasure to play with a public money. you're a zentral banker and basically can tell your friends- go long/short, we'll do the same in just a minute or- we will defend the currency for 3 months until 300B is gone. hedge funds friends, trade against us and pocket the 300B, we'll go to the party together!
still moving without a direction... EUR/USD climbed after China announced that it will set up a $300billion investment vehicle made up of two funds (for the U.S. and Europe).
Allow me to say that this is BS. How would such a news make the EUR gain 1/100 pointsin 30 mins? What almost daily brings up the EUR in the morning (EU time) is the ongoing bond buying program performed by ECB with freshly printed money. Croissant, coffee and a few billions of Spanish and Italian bonds. in the afternoon US markets open and reality kicks in.
Every day it's more apparent we've reached the terminal stage. Just blatant central bank/media manipulation every single hour of the day...to buy another day's time. Firms are also at the cannibalization stage, the minnows are gone, they are simply swallowing each other whole. Stick a fork in it.
Currently we have nothing definative as far as trend bias goes on medium time frames but we certainly have tradable structure on smaller time frames . reference points marked