Chinook's EUR/USD (E/$)Mumblings

[Ivanovich]

Stupid crosses are killing me. EUR/AUD and AUD/JPY.

 

[TRADERguy]

Quote from chinook:

What a terribly slow day it's been so far.

It looks like everyone decided to buy Cable. My last trade was long Cable, but I got out about 3 hours and 65 pips ago.

Cheers,

TRADERguy

 

[ae_trading]

EUR/USD heading towards another test of this resistance around ~1.333. Wonder if it will break up or down. The down dips keep getting smaller so it seems a larger move is on the way.

Thoughts?

ae_trading

 

[TradingWise]

Quote from ae_trading:

EUR/USD heading towards another test of this resistance around ~1.333. Wonder if it will break up or down. The down dips keep getting smaller so it seems a larger move is on the way.

Thoughts?

ae_trading

I think down. If there would be momentum for an upmove, the rate would not crawl so slowly. If the test fails, it will come down hard.

 

[Ivanovich]

I don't know, the ranges are getting smaller, and I have a feeling it's going to be a contest of wills, right around European open tomorrow morning. Support camp is pushing up, and the Resistance camp is weakening.

 

[Ivanovich]

Whoa...check this out. Was watching the Aussie when it suddenly jumped 20 pips up and then 20 pips back down in the span of 2 seconds. Can only see it on my 5 second chart...

What causes stuff like this?

 

[forextrades]

Quote from Ivanovich:

Whoa...check this out. Was watching the Aussie when it suddenly jumped 20 pips up and then 20 pips back down in the span of 2 seconds. Can only see it on my 5 second chart...

What causes stuff like this?

20 pips in 2 seconds is nothing.

 

[fandelem]

I can't believe there isn't any talk of GBP/USD?? That sucker has gone up over 150 pips for the past two days! Anyone catch that train???

 

[Ivanovich]

Quote from forextrades:

20 pips in 2 seconds is nothing.

Great, thank you for the informative reply. It's "something" when nothing is happening and something causes it to blip. Is it software error? That's all I'm curious about.

 

[chinook]

Quote from Ivanovich:

Great, thank you for the informative reply. It's "something" when nothing is happening and something causes it to blip. Is it software error? That's all I'm curious about.

I see similar spikes in EURUSD both with the Tradestation spot FX and CME futures. Sometimes before a big reversal, there's a spike in the opposite direction initially then the "real" move comes in. In this case, I think a deep pocket comes in and feeds the market initially and pops some stops then starts pumping in the opposite direction.