Damn the markets are going crazy right now! | Forex Factory

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Damn the markets are going crazy right now!

  • #1
  • First Post: Feb 4, 2010 10:44am Feb 4, 2010 10:44am
I haven't seen movement like this on so many currencies in a long time. I hope everyone is winning some!
  • #2
  • Feb 4, 2010 10:49am Feb 4, 2010 10:49am
Just made 50 pips on USD/JPY.

I certainly hope that the world will go crazy like in late 2008, I definitely could use the money !
  • #3
  • Feb 4, 2010 10:52am Feb 4, 2010 10:52am
Quoting aicccia
I haven't seen movement like this on so many currencies in a long time. I hope everyone is winning some!
Not crazy, I've been anticipating this for weeks/months.

http://www.forexfactory.com/showthre...34#post3431034
-Razorjack
  • #4
  • Feb 4, 2010 11:09am Feb 4, 2010 11:09am
Crazy Crazy Crazy Nights - I think I know a song about that! yes that YEN is flying in what is the middle of the night for Japan.
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  • #5
  • Feb 4, 2010 11:10am Feb 4, 2010 11:10am
Well yeah I've been waiting to do some serious shorting on AUDUSD and AUDJPY for a few weeks too.
  • #6
  • Feb 4, 2010 11:11am Feb 4, 2010 11:11am
Does anyone know what triggered the move?
  • #7
  • Feb 4, 2010 11:18am Feb 4, 2010 11:18am
Quoting aicccia
Does anyone know what triggered the move?
I needed a 50 pips profit to boost my morale.
  • #8
  • Feb 4, 2010 11:20am Feb 4, 2010 11:20am
Quoting aicccia
Does anyone know what triggered the move?
Soverign debts in Europe (Portugal, Spain, Ireland and Greece) and China's monetary tightening.
-Razorjack
  • #9
  • Feb 4, 2010 11:49am Feb 4, 2010 11:49am
Quoting Razorjack
Soverign debts in Europe (Portugal, Spain, Ireland and Greece) and China's monetary tightening.
I mean in the last few hours...why exactly now? Did some announcement come out somewhere?
  • #10
  • Feb 4, 2010 11:53am Feb 4, 2010 11:53am
Quoting aicccia
I mean in the last few hours...why exactly now? Did some announcement come out somewhere?
Geithner comments re: China. Rumors of Greece defaults are helping too
The trend always ends.
  • #11
  • Feb 4, 2010 12:01pm Feb 4, 2010 12:01pm
Quoting aicccia
I mean in the last few hours...why exactly now? Did some announcement come out somewhere?
It started with an auction failure for Portugal when the gov't tried to sell 500 million € in debt to investors and failed.

But the markets have been waiting for a correction. So this was just the trigger. If this didn't happen it would have been something else ..... it was inevitable.
-Razorjack
  • #12
  • Feb 4, 2010 12:18pm Feb 4, 2010 12:18pm
Some would surmise that it is chaos theory at it's very best, a butterfly fluttering it's wings in Australia might cause a hurricane in the States
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  • #13
  • Feb 4, 2010 12:29pm Feb 4, 2010 12:29pm
The weight has been building and the decline was slow. The failed auction, news storys about Obama warning China on currency support, unemployment.... Just enough today to cause a rush I suppose.
  • #14
  • Feb 4, 2010 12:35pm Feb 4, 2010 12:35pm
I think is because the statement from the BOE.
http://www.bankofengland.co.uk/publi...s/2010/008.htm
The GBPJPY is very volatile and so it moved the other JPY pairs. That is my explanation.
  • #15
  • Last Post: Feb 4, 2010 3:41pm Feb 4, 2010 3:41pm
Three is a good chance momentum will spill over to next few weeks and keep markets moving faster than ususal.
Just a key note for newbies, stay away unless you have a self-trusted strategy in place for the next few weeks.

Cheers.
S
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