DislikedThis morning is a good example. Before the IFO number is released there is a recent tendency for rumors to preceed it. These rumors usually tend to be tilted towards a very bad number. This morning's number came in at 104.9 much better than the perception based on recent bad ZEW numbers and only .1 off the 105.0 expected.
However after a small spike up to EUR/USD 1.2758 the immediate reversal to 1.2729 and then since TA numbers get affected it hit a low of 1.2710 before mild recovery.
Was there a form of intervention ... The Dollar Index is at a critical area ...
How can this situation be traded or how do you see this reverse action to the data.
I have been trading FX since March 2006. I operate as a CTA and presently have $75,000 US Dollars under management. I am a FX trader who uses the news but I have a stong understanding of the economy so I tend to be very firm in my longer term view of the Euro. I also trade with the main trend. It is nice to join this Forex Forum.
Thank you for your comments.
Firm long term Euro?? As in Long No Matter What??
You sound like the same Warren from the SBFX MetaTrader forum. The guy with 70 or 80 straight (small) trades without a loss....the guy that can cut and paste news articles unlike any other....the guy that trades with ManFinancial Canada.... the guy that had a client ready to give him a bunch of cash to trade from some offshore sun-drenched island haven... the guy that claimed to be Warren "Buffett" (note the spelling)....
While I can agree with some of your fundamental "analysis" (some of which astonishingly matched mine back in July-August 2006), I can't say I agree with your trading strategy as explained in DETAIL at SBFX.
Warren, this is a kinder, gentler forum....many newbies looking for someone to follow. PLEASE, do not lead them astray.
Say it ain't so....