EURO/USD is trading solely based on news.
A few days back Angela Merkel said...we shall fix the Euro problem
The market went up
The French President Nicolas Sarkozy flew to Germany because he said France and Germany were on a different path - The Euro went down
Next ECB released a memo saying they had the authority to purchase bonds - The market went up....
Next market figured out - hey but what about Greece....The market went down
Next Germany says We are sure to get a resolution....maybe latest by Wednesday....bang the market goes up...
All people are talking....and Market is going up and down with huge candles - check out the 15 minute candles...
what do you guys feel...this is not technical trading....this is fully driven by news (unscheduled news) which has nothing to do with Economic news like CPI or inflation or sales
A few days back Angela Merkel said...we shall fix the Euro problem
The market went up
The French President Nicolas Sarkozy flew to Germany because he said France and Germany were on a different path - The Euro went down
Next ECB released a memo saying they had the authority to purchase bonds - The market went up....
Next market figured out - hey but what about Greece....The market went down
Next Germany says We are sure to get a resolution....maybe latest by Wednesday....bang the market goes up...
All people are talking....and Market is going up and down with huge candles - check out the 15 minute candles...
what do you guys feel...this is not technical trading....this is fully driven by news (unscheduled news) which has nothing to do with Economic news like CPI or inflation or sales