The wind is changing

Today is sort of breaking point.
Pairs are going to change its direction.

togr posted:
Pairs are going to change its direction.

Which pairs and why do you think so?

My systems showed that.
I trade mainly EURUSD.
It was dropping till breaking point.
Since then it is rising.

I agree, yen pairs seem to be reverting their directions

Yes seems like it, waiting for the American Session to start as they were on holiday Thursday and Friday. Waiting for a pullback in the EURUSD so I can buy. Buy Limits already set around the 1.06 area maybe will move em up depending on the situation.

I had a short on EUR/USD earlier today and I just closed it. I don't intend to open longs for now.

You did good mlawson71 that clearing for the months end put a lot of pressure so early. Didn’t expected it though it looks quite bearish now.

Market was calm today despite Draghi

Yes, let's see how it goes after the NFP tomorrow.

togr posted:
My systems showed that.
I trade mainly EURUSD.
It was dropping till breaking point.
Since then it is rising.

Got it, thanks for the clarification! 😄

Do you guys think that most of the pairs will go in the opposite direction during the NFP? It seems for now this will happen. Nothing sure, but I just want to be prepared when the fast movements start.

I believe market will move both sides. In any case people still believe FED will increase the rates in DEC so good NFP number will confirm the cause and USD can skyrockets.

togr posted:
I believe market will move both sides. In any case people still believe FED will increase the rates in DEC so good NFP number will confirm the cause and USD can skyrockets.

Yes, I think it EURUSD may fall about 100 pips after the NFP if we see a better number announced.

EURUSD is range bound since there are a lot of uncertainties going on over Euro zone political stability. Moreover Italy referendum is also lined up and a rejection for proposed constitutional reforms can unleash confidence in the euro zone economy, which definitely can take euro down from its consolidation range. Right now, investors are just being sidelined, refrained to put any major positions before the major events. the recent short term rebound is just due to value buying in Euro and profit booking in USD and indeed if NFP comes better than expected it can test its psychological level of 1.05 again as Higher fed rate hike expectations can drive dollar in further bullish territory.

togr posted:
I believe market will move both sides. In any case people still believe FED will increase the rates in DEC so good NFP number will confirm the cause and USD can skyrockets.

If the market moves in both directions it could be, in a way, beneficial to investors?

tradfred posted:

togr posted:
I believe market will move both sides. In any case people still believe FED will increase the rates in DEC so good NFP number will confirm the cause and USD can skyrockets.

If the market moves in both directions it could be, in a way, beneficial to investors?

For the short term trader like, the scalpers; definitely, it is.

We will see what brings FOMC statement and NFP this week

I forgot the they're this week, good thing you reminded me. Thanks for that. Let's hope there'll be more than whipsaws.

The volatility will raise and small time frames offers some nice short term opportunities :)