a beginner's attempt at the pairs

I got it ! just like stock market, unless a news is directly related to the future cash flow, all other News have only temporary price impact. So when Australia govt did not increase the interest rate yesterday, it only depreciated temporary due to the disappointment...
So I will eye on Euro interest rate speech later today
 
victorycountry said:
I got it ! just like stock market, unless a news is directly related to the future cash flow, all other News have only temporary price impact. So when Australia govt did not increase the interest rate yesterday, it only depreciated temporary due to the disappointment...
So I will eye on Euro interest rate speech later today
More...
Are you going to open positions during the ECB news ?
 
Alexfx79 said:
Are you going to open positions during the ECB news ?
More...

I will set either a limit/stop order at the right place.

I think they will not change the rate...I did some secondary research but no one is expecting any change in the rate. So the initial reaction will be depreciation at the announcement. The current upmove in eurusd also confirms that. Usually market moves oppositely prior to some important news.

Besides, it is in overbought condition too
 
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victorycountry said:
I will set either a limit/stop order at the right place.

I think they will not change the rate...I did some secondary research but no one is expecting any change in the rate. So the initial reaction will be depreciation at the announcement. The current upmove in eurusd also confirms that. Usually market moves oppositely prior to some important news.
More...

I also assume that ECB won’t change rates today. There is no fundamental reason to do so. And soon we will know how the market will react =) I think a lot will depend on the press conference of the Central Bank, which will be held after the announcement of interest rates
 
I was looking for the bottom of this temporary price impact...and initiated long for EURUSD and EURJPY after they crossed 1.059 and 120.9 respectively with the support from strong buy volumes...(I hope they have reached the bottom though)

If they recover, then I think they will recover to EURUSD 1.09 and 124 level, will see.
 
Stopped out for EURJPY so instead of focusing just two pairs, I will implement a risk management strategy.
I choose you "the diversification strategy" !

I26.jpg

- set limit/stop buy orders for EURGBP, EURCHF and EURJPY;
EURGBP and EURCHF have been triggered while still waiting for EURJPY to be trigger
 

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