Every time the market moves the opposite way it should after a data point

Fry on markets not sure

I’m thinking of EUR/USD after the GDP numbers.

Author: Adam Button

Adam Button is the editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes deeply in the value of knowing every tidbit of news. He has a background in journalism and was formerly the head of the markets team at the Canadian Economic Press. He is a graduate of Ryerson University and completed Level 1 of the CFA program. Adam lives in Montreal, follow him on Twitter: @FX_Button.

14 Comments

  1. Haha wait wait I have one for a later date

    http://i.imgur.com/saSzZNZ.jpg

  2. That one resonates with me, Ryan

  3. Let me pick your brains on that pair gentlemen….looks like its broken out of a flag on the h4. Could there be further upside? Hmmmmm

  4. Couldn’t have said it better myself. I’ve tried it once and once only. I managed about 150 pips after 4 days before giving it back in about 3 hours. That is the inevitable fate of the (increasingly) greater-spotted Australian bottom-picker.

  5. Speaking of Summer, tomorrow is a big holiday in Europe. Do you happen to have a list of which markets will actually be open for business ???

  6. everytime is a manipulated market :-) just to fool the retailers as me :-)

  7. Hey Tom. Here’s what I’ve got:

    http://i.imgur.com/lSm0pcM.png

    4hr chart. Not exactly sophisticated analysis I’ll give you that. But a trend is a trend and this one is going down. A lot of people say the risk-reward is skewing in favour of longs at these levels, but I don’t think that will be true until the mid-80s. This level we’re at now isn’t particularly useful for anything other than being a recent pivot.

    Also, if you look at pure price on the weekly chart (something I seldom do but it bears a look in this case) we’ve not got much before 0.88:

    http://i.imgur.com/PxUeXDH.png

    When you look at it like that, this little section is just a consolidation wobble on the way down (in my eyes).

    I think when this pair is slamming into 0.86 people are going to look at this chart and wonder why they didn’t just sell the damn rallies.

  8. Ahhhhh, Assumption Day. Italy is closed. Maybe Spain?

  9. Good stuff Chase

  10. I think it was midsummer’s day once upon a time and then they tacked on a Catholic holiday later. Still I think it’s more than Italy closed !! India I know is closed. Some South Americans, Bruxelles I think…. I would have thought France, but apparently not.

  11. French, Italy and Spain are closed on thursday the 15 th.

  12. @ib, thanks for the tip, I put up a post.

  13. @chaser….thanks for that. Sitting down with my brew and looking through your charts. Much appreciated

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