Currency Markets Rekindling US Dollar Strength After FOMC Statement

"traders abandoned long USD positions especially in the EUR/USD and GBP/USD and a little bit in the USD/CHF"
abandon???
this kid either has no idea about corporate trading, or likes choosing too strong words, or both.

can any one tell me the high of euro/usd is it 38 or 3799??

he smoking funny stuff. LOL

salman, mine shows more like 87-88 for high..

mme, i think he works for free or knows someone there, otherwise they wouldnt let him write hahaha i dont think he ever trades, or trades and makes money.
look at those charts?? nobody i know who makes money in trading, ever does with that type of chart analysis..

I have 1.3797 on one broker and 1.3795 on another.

it was 1.3799 not 38 !!

damit then why ma broker of acm is saying we hav trade till 1.3803 i have a stop buy on 38

Or was it at 1.37995 ? Damn 5 digit stuff. I can never get it right.

"damit then why ma broker of acm is saying we hav trade till 1.3803 i have a stop buy on 38"

And why. pray-tell, would you ever listen to a rec'o from your FX broker??

On a buy, it is the ask price that triggers a stop, not the bid.
During that time the spread was higher due to market volatility while the Fed statement being released so it is quite possible that the ask price hit as high as 1.3805 with most brokers and possibly higher with others.

Or a "gap" ? We should concern ourselves for eternity over a 5 pip difference ??

Regarding that; here is a regularly issued statement from an FX broker;

"As with all major economic releases, there could be significant price volatility with this announcement. Currency spreads will typically widen just before the release and will remain wide for a few minutes after. If the announcement is a shock to the consensus estimate, the price of the currency pair could gap significantly. For example, the price on the EURUSD trading at 1.2820 - 1.2822 just before release could gap up 60 pips to 1.2880 - 1.2882, without any available prices available between the price of 1.2820 and 1.2882. A Buy Stop placed before the announcement at 1.2830 would turn into a Market Order and would be filled at the prevailing price 1.2882. The same would be true with a Sell Stop."

If your broker doesn't issue that statement, does your broker suck ??

I agree abandon was a strong word. Perhaps scaling out would have been a better word choice, but can you elaborate on the context of corporate trading? I don't work for a bank no doubt, I am an analyst who saw price action suggest USD-longs did not hold, instead of choosing to assess that traders were committed to USD-shorts.
Thanks in advance for a more respectful response.
-Fan

so Fan... you only look at prices on charts and you are making up stuff like traders abandoned, depleted, oh sorry, I stand corrected, "traders scaled out".. you dont see or talk to any corporate traders about their position, but make your comment up by looking at the chart, ha?

yeah, it dont work like that, son.. you cant make up stuff, if you are an analyst stick to analyzing. if you are not trading dont talk about trading.

I also remember before you were teaching ppl how to trade, control their emotions blah blah.. but as you said, you are not even a trader yourself.

pathetic..

Did you have a bad day drtorque. I am sorry if you did.

I am an analyst, but yes I am a trader as well. I said I don't work for a bank, I never said I don't trade.

Now with your most recent response I understand I won't have a good discussion with you, but there are others reading these posts so I want to clarify a couple of things.

1) Yes, I do teach that emotions can be very damaging in trading. That comes from experience, and one of the emotions that can bury you is pride - in the context that a trader who believes he is always right will not be agile enough to change his/her mind to changing dynamics in the markets. I bring this up because this is the most recent article I wrote and I am assuming that is what drtorque was referring to but there are definitely other emotions to steer clear of as well.

2) The other thing drtorque did not like was - how dare this young fella assume traders are shorting the USD ahead of the FOMC just by looking at the price action?

As a technician I do depend a lot on charts - price action, and other technical indicators to infer certain actions the market as a whole does. How else does EUR/USD rally 60 pips out of its recent consolidation?

I can't tell you exactly which traders from which broker, bank or corporation are doing it, and perhaps that's why drtorque got so frustrated, because I didn't say this or that bank made these orders of this or that size.

Now ForexLive does a good job on this type of information and it can be useful of no doubt. But that's all I have to say now.

awww our little fan fan not having so much fun..
are you getting "emotional" now, big trader little fanfan??

actually, im having a great day.. you know why, fanfan?
because I just did the opposite of "traders abandoned long USD positions especially in the EUR/USD and GBP/USD and a little bit in the USD/CHF"..
thats what all smart traders did..
had you been one, you;d know, and wouldnt be losing time writing those stupid analysis for $20 a piece.
enjoy little fanfan and have sum fun hahahaha

I am sure and I agree with you.