Yesterday EURUSD went back and forward without any clear direction although with a wide range and closed in the middle of the daily range, in addition managed to close within the previous day range, suggesting a lack of momentum and strong indecision among traders.
The pair closed above the 10-day moving average that is acting as dynamic support however did not managed to close above the 50 and the 200-day moving averages that are acting as dynamic resistance.
Today the markets are expecting an unchanged interest rate for the Euro zone and foremost the ECB president Mario Draghi speech looking for clues on a potential increase of QE due to the global economy slowdown.
The key levels to watch are: A daily resistance at 1.1236, other daily resistance at 1.1097, the 200-day moving average at 1.1021 (resistance), 50-day moving average at 1.1000 (resistance), the 10-day moving average at 1.0954 (support) and a daily support at 1.0900.
Waw. Just 1200 pips lower. Ok, I'm new, and I would love for someone to explain why ICMarkets EURUSD M1 data and Pepperstone for the same pair/timeframe is so vastly different... Respectively on MT4 Win and one on MT4 iPhone. (sorry no screenshots, but maybe you can see it yourself?
Is this how brokers make their money? Add a bit of their own volatility when everyone is looking the other way, bit of order out of chaos?
It looks very suspicious, esp since both brokers seem heavily regulated and didn't come across as crooks?
stian posted: ICMarket have holes. Either they didn't have any quotes to give, or it was technical issues.
I made money (only about 2500$) on both grid system and scalping on Pepperstone. No issues.
Thanks. My experience as well, both on demo though. I talked to IC Markets and this was their response.
Client 1:10 am I have +1,000 pips gaps... Don't have them with other brokers Jessica 1:11 am what is symbol ? and account type is this Sir Client 1:12 am this is EURUSD M1 demo account Jessica 1:13 am Gaps tend to occur at times in the demo accounts during high volatility and news releases, as the data for the demo account is obtained from the Live Server (gaps do not occur on the Live accounts). Therefore, at times when there are extremely quick markets movements the latency between live and demo servers does play a role, causing the gaps in the demo charts..
The euro registered a significant increase against the dollar on Thursday. The single currency has advanced considerably shortly after the meeting of the European Central Bank. So losses from beginning of the week were completely wiped out, and the two resistances at 1.1066 and 1.1119 were pierced. If the bullish trend continues, the pair will reach the key level at 1.1244.
Yesterday EURUSD initially fell 177 pips but found enough buying pressure at 1.0819 daily support to turn around and close near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.
The pair closed above the 10, 50 and the 200-day moving averages -day moving averages that are acting as dynamic support.
Due to the 183 pips extent move the market might retrace back to 1.1097 daily support before another leg up.
The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1236, daily support at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.1012 (resistance) and the 10-day moving average at 1.0999 (support).
The single currency hit low against the dollar after the ECB announcement. Subsequently, however, the euro recovered positions and shoot up after ECB President Mario Draghi said he does not expect a need for new interest rate reduction in the future, but interjected that 'this fact is subject to change.'
The EUR/USD is trading higher since yesterday's press conference. The pair reacted sharply bearish in the initial moments and reached 1.0820. However, the Euro decided it's time to break the resistance and pierced through the 200SMA at 1.1045 reaching as high as 1.1218.
Currently a modest decline is taking place and the EUR/USD is trading at 1.1120. Strong support at 1.1080. Major target for bulls 1.1400.
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