Ok, the market is totally based on speculation now. Bull on EUR/USD nonetheless. Like Bank of Canada head Mr Dodge said... the forex markets tend to overshoot.
While I agree with all the reasons it should not go up anymore..... looks like 1.2738 then 1.2790 then 1.2843 to me. Sigh.
YEAH YEAH YEAH NFP LOWER, UNEMPLOYMENT UNCHANGED WOOOOHOOOOO!! Seems like the Feds are gonna save the stock market and real estate market, the USD is on a one way trip to hell! Might I say that I'm starting to like Ben Bernanke?...
Too early to tell here, but there is certainly potential for bearish divergence on hourly charts. It would be a classic setup if the market fails to tack on gains here in the next hour or two. I'm speaking about euro fx futures
Average hourly earnings are up so no reason for the Fed to be too doveish, at least not after this data
I agree. The Fed is going to stomp on everyone one of these days. Everyone is cheering the demise of the almighty dollar, and as usual, the US keeps quiet on it, except to chide Japan for not allowing their currency to slide like the rest of the majors. The Fed knows exactly what it's doing, I'm sure. I certainly have no idea what it's doing, but the Fed does.
I got a bit too excited. That's due to the local exchange being closed for A WEEK, and gold is going thru the roof. I should've made 20-40% returns, but since the exchange won't open till next week, I need to keep gold afloat , otherwise my big trade of the year is gone
I will have no choice here in 5 minutes when the hourly bar finishes to do anything but go short. Classic bearish MACD Histogram divergence. EDIT--unless the last 5 minutes negates it.