Joined Feb 2009
Status: my oponion i have them all
this is to the more experienced traders ........ with the bad news on housing meaning bad for stocks good for currency what do you expect USD to reach today short term ....... do you think 13530s im just interested on some technical or good old understanding
Joined Feb 2008
Status: Live long and have fun :)
lol All the time people new to fx come and write such Qs here, myself probably included at some point.
General answer: Market is typicly moving according to technicals, news are ussualy (unless it's something really big and shocking and even then the effect of it specificly on the chart is short lived - that is if it continues that way it means it intended do it anyway) already counted in in what you see on the chart.
Extended answer and my opinion which I think is very close to the truth:
Fundumentals only matter for long term trends - weekly charts and up. On daily and intraday charts the effect of a couple of significant news releases (beyond a local spike) though it may exist doesn't even matter in terms of analysing the chart - just do the technical analysis. You'll see some people try to attribute past news to past moves or weigh the relative amount of positive/negative releases between 2 curruncies - but ussualy nothing comes out of these forecasts beyond what would happen by pure chance and the past justifications are as rediculous as "verifying" astrological predictions - that is, the very large amount of information is filtered by the "analyst" weather on purpose or even unknowingly to supposedly justify the chart, though the same things were much easier and simpler to predict ahead of time using ta.