Pipped... that must have been Joe Terranova. I remember him recently saying you must have exposure to oil. The next day it dropped from 77 to 73, the biggest % drop in one trading session ever!
I think you need to ignore the daily news flow and focus more on the technicals. Nothing has really changed with Greece, the Euro was simply oversold. It was time for a counter-trend rally. Likewise, often great news can come out that should send a currency higher. However, if that pair is seen as overbought, traders will take profits and it will plummet. The news flow typically just provides moments in time that can be used as excuses for a rally or a sell-off. The logical common sense reaction to a news report is often the wrong hand to play.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(12 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (12 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (12 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (12 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(12 months ago)
Gold and USDJPY
Weaker than expected CPI is expected to help gold and drag on USDJPY until this evening's Fed decision/press conference..
View Hot-Chart..
I think you need to ignore the daily news flow and focus more on the technicals. Nothing has really changed with Greece, the Euro was simply oversold. It was time for a counter-trend rally. Likewise, often great news can come out that should send a currency higher. However, if that pair is seen as overbought, traders will take profits and it will plummet. The news flow typically just provides moments in time that can be used as excuses for a rally or a sell-off. The logical common sense reaction to a news report is often the wrong hand to play.