Wow, That Was Quick

C'mon, it was already heading up in an overly upward trend, that's just what happens when the momentum is like a 4 metre wave. I don't normally trade nights, but I wish I'd had a couple of strong coffees last night and stuck around, this move was on the cards as soon as we bounced off the 76.4% fib retracement level yesterday. Anyone out there who bought the euro when it did that and held it over night, I certainly hope you are taking an early holiday weekend!

quick as a mark up...
but technically, still downtrend on medium term timeframes - we haven't see a higher high on weekly and until i see that i will short all rallies, just like i did with this one.

My take is risk aversion, when risk is on usually people flock to safe havens. The Biggest safe haven is the Swiss Franc, Usd/Chf and Eur/Usd are correlated if the Usd/Chf goes down due to a strong Franc the Eur/usd Goes up. Just my take Also the Price bounced off the 100 Daily Moving averge This may be a Completion of a retracement.

@Alexgee
thanks for correcting me on risk on risk off.
the Euro is a Doomed ship but when you pit it against the Us Dollar. it looks More enticing. Now Fundamentally Euro is Stronger, Due to a Higher Interest rate investor will Flock to it instead.

@ Diego1979 if the trade goes against you their Nothing we can do for you. GET OUT, hopefully you traded with a Money managent conscious system which would have Reduced the 200 pips stoploss you have on this Trade. Good Luck Mate.

These moves look suspect to me. Come'on, the EZ is in deep doodoo and the floor is about to give in at any moment. Betcha the next bad piece of periphery news (whether is Greece, Spain or Portugal) hits the wires and it's all she wrote.
Watch below...

@moneymike
when risk appetite is on, people go into risky investments and speculative instruments. When risk aversion sets in (or is said to be "off"), they flock to the USD, CHF and JPY which are considered to be safe havens. So the euro going up means risk is on. Your first statement was backwards. I think this is positioning so the big guys can sell from a better price. Fundamentally the EZ is doomed and all their people coming out and saying it is not so is just lipstick on a pig.

c'mon people.... the evil empire (goldman) said euro would hit 1.55, so they have to get it up to 1.55 before they pull the rug.

no surprise, come on now what did you think, they'd let us win on shorts? no way. rally... and after all stops are run, dump again.

What is making anyone bid EUR/USD? Do they want to shoot themselves in the foot?

seems like this move is due to tripping stops from some major players as they wind down for the long US & UK weekend. Won't be surprised to see a reversal here.

You should see the AUD/USD pair on citifx's spot rates, it would blow your mind.

In this game, u r either a mofo or a mofa. If u r a mofo, u jump on the elephant arse and hitch the ride no matter which way it's running, if u r a mofa, u try to stand in front of it and stop it.Ur choice...

If you think the Euro should be heading down then you think Bernanke will print less money than Europe; and that the inflation play is dead in the water. I'd be cautious about subscribing to that theory!

Or maybe it's because China bailed out Portugal for a major Billion € for the second time since February and made it this time public, After a large hedge funds sold €/£ €/Ch and Au/Us in the afternoon. I read the news and I was ready.

a pillar in my trading philosophy is when operating in a chaotic environment where disequilibrium is the norm don't argue with price.

On the other hand it's not so unpredictable given the the 4-hour trend was already higher and price was above the pivots.

I'm with Elver Gon going forward though...

So, I hear all the stop hunters and thin markets stuff. Do you ever watch volume at 9:30-10:30pm Its Asia doing the bidding and china said it would support euro zone. Please use some common reasoning when speculating on the whys and hows. It could help your trading to be more educated in Global policies.

Wow! what a sudden move on EUR, was to fast, didn't see that coming, at least not in one night, well, that Forex!

If we've got their MO down...why all the complaining? Just wait until the headfake is over and then short in...

Price is hanging in the fib's ready to continue downward at least to retest 1.3080, big guys are emptying our pockets before shorting.

I have to agree on the headfake. Goldman wants us to buy and then empty our pockets.

Hi to all.i am sell the pair euro/usd at 1.4310 and my stop lose at 1.4510.what i do help me