The dollar traded in the lower face almost all of its G10 peers during European morning getting stable against the NOK and CHF. The euro was boosted by the release of the Ukrainian president, Petro Poroshenko by announcing a permanent ceasefire. The announcement of the agreement reinforced EUR / USD, but the pair failed to hold gains eventually back the next time, given the widely anticipated that the ECB meeting will be held next Thursday that remains the key factor for EUR.
csc2009 posted: There is political gossip about a discussion of permanent ceasefire between the Ukrainian President Petro Poroshenko and the Russian President Vladimir Putin has sent eur/usd higher to 1.3160 today.
It's a fake ''ceasefire'', just like you said ''political gossip''.
EURUSD rose slightly during the Wednesday session, but found sellers above again on the 10 day moving average. All eyes will be on the interest rate statement coming out of the ECB today, looking for clues of further QE out of Brussels. The 1.32 level should continue as a key resistance and 1.31 should be a key support to pay attention today.
when I started learning how to trade price-bar formations about 32 years ago, my mentor gave me a set of rules to go by: 1. NEVER trade without a stop-loss 2. NEVER trade an intra-day chart 3. NEVER fight the current trend Most traders here seem to be fighting the trend, but only because they are looking at intra-day charts. The EURUSD today made it to the 50% retracement (low of 2012 and high of 2014) There are 2 major trend-lines near 1.2930 and 1.2800
In my last posting I mentioned 3 types of gaps. the most recent one turns out to be the break-away gap.
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