Eur/Usd Sudden Spike

Discussion in 'Forex' started by globalfxllc, Apr 30, 2004.

  1. Traders are at a loss to explain the sudden spike through 1.2000 in EUR/USD. Some blame an Asian buyer. US investment names were seen as large buyers in the 1.1990s after stops were triggered above yesterday"s highs. There is talk of month-end interest to sell EUR/USD at the London fix and trendline resistance lies overhear at 1.2030.
  2. izeickl


    How about a possible resumption of the bull trend? Bouncing off of Oct high and weekly 50SMA. Everyone is so keenly watching USD get stronger past few months, but it did exact same last summer. I know many people who got burned badly refusing to believe the USD would get weaker again after its strengthing from the May/June high. I couldnt say one way or the other atm but im keeping an open mind as to which way it will ultimatly go. Looking at weekly however long term bull trend still looks firmly entrenched atm and previous USD strength merely a retracement. Who Knows? :confused:
  3. Well, I'm not at a loss to explain it. I see spikes in excess of 75 points happen all the time.

    It was probably just a little weekend USD profit-taking. ;)

    EUR/USD will hit 1.1900 again next week.


  4. why are repeating a common news feed ? traders are at a loss why you keep hanging around after this--

  5. Who cares ...
  6. LMAO!
  7. Yes, the 1.20 is a key level and if the market can pop it (and not get shot to hell, like today, back in sub 20), then I think it will remain there for the short term.

    I, on the other hand, believe that the EUR appreciation to $ moved too quickly too fast, and we will see a downward movement back closer to 19 this coming week.

    I am currently short at 78 with stop at 96

  8. taken from website

    The dollar traded all over the place today as some month end fixing orders combined with some strong US data sent the market home for the weekend in a bind. EUR/USD traded in a wicked 1.1955 to 1.2014 range while USD/CAD, behind a weaker than expected Canadian GDP number, raced from 1.3685 to 1.3787 only to capitulate back down to its lows under thin, volatile trading conditions. Meanwhile, some players were caught long Swiss francs at bad levels (1.2900, 1.5425) resulting in a nasty move higher in USD/CHF (1.3000) and EUR/CHF (1.5545). So as we head into next week all eyes and ears will be firmly entrenched on next Friday’s Unemployment numbers. A strong number will likely get the dollar bulls rolling again on their quest to pierce through the hugely significant 1.1750 level in EUR/USD. A break here will likely signal a medium term end to the dollar’s decline.
  9. Why don't you take your stop out? How big a size trade are you trading that you need a stop loss to keep yourself from being crushed???

    You should trade more in direct relation to your true account size.
  10. I always trade with a SL, simply because I do not want to get injured by a sudden move.... we all know what that is, as shown today.

    I am trading with the SL at -2% of my capital, simply because I usually do not hold over night or weekends (I have never risked more than 7% of my capital). I am purely taking this trade as low risk to reward- low in what I can lose and high amount that I believe I can win. But, of course, this SL could knock me out anytime even I was right- just at the wrong time.

    #10     Apr 30, 2004