I don't get it. Are they drawing their blue line at the start of the day or are they adjusting it throughout the day then saying 'look we were right all along'?

New GFT Foresight AI service - any comments?

You're right. I trade medium term and I've been short since 1.98 so I'm just hoping for the best. I'm not sure I would open a new position now because we're half way between medium term support and resistance. I think the odds favour shorts though. ...

Cable Update (GBPUSD)

Look what happened to cable in the last two weeks of 2005 - total collapse after a big run up. The same thing is about to happen in the next two weeks - all the way to 1.9150.

Cable Update (GBPUSD)

If they actually were going to sell dollars they wouldn't announce it in advance because of the risk they would get a worse price. Looks like they already sold too many and now they're trying to untangle themselves from a bad trade.

The EUR/USD Rally-Still Dead?

It's a year end technical sell off - exactly the same as happened last year. Take a look at the charts for the last two weeks of last year. Price could go all the way down to 1.92 before year end.

Cable Update (GBPUSD)

Exactly. In percentage terms GBP/USD is NOT much more volatile than EUR/USD. The daily Average True Range of EUR/USD is currently 91 and of GBP/USD is 136 which in both cases is about 0.7%.

Why does the GBP/USD have so much more Velocity than the other majors?

Currently seeing bid/ask of 630.50/630.90 on CBOT January contract. Fairly typical.

Do You Trade XAUUSD (Spot Gold)?

I doubt it because the initial spike was dollar positive but the trend for the day was dollar negative so the spike just gave technical traders an opportunity to jump in. There's not always a good fundamental reason for a move in the forex markets. ...

FOMC Interest Rate Statement

That's why it's odd that the USD weakened. People are expecting a rate cut early next year but there's no indication from the Fed that they will cut rates. I think medium term the dollar will strengthen. There are stragglers at the end of every ...

FOMC Interest Rate Statement

Metals, oil and agriculture futures are all down on the day!:

FOMC Interest Rate Statement

There's nothing in the statement to indicate a rate cut. One member even voted for an increase.

FOMC Interest Rate Statement

It seems illogical that the USD is weakening. I think it's just traders trying to "get in on the trend" too late. I think the dollar will strengthen in the medium term. EUR/USD might have to touch strong resistance first (like it did on Friday).

FOMC Interest Rate Statement

That was a no trade for me but fading the initial move down would have worked.

FOMC Interest Rate Statement

This is the key paragraph to watch out for (from last month's meeting): Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the ...

FOMC Interest Rate Statement

Presumably you want a take profit at 117.30.

Stop Loss and Take profit question

You can get burned jumping on candles :. It all depends what candle you jump on. Just look at the historical charts and you'll see - it goes in one direction then comes back UNLESS the Fed says something totally unexpected (highly unlikely). So ...

FOMC Interest Rate Statement

Investment banks run arbitrage black box systems so there's no chance arbing the interbank market before they do. If you try to arb a retail market maker like OANDA they will tell you to stop or close your account.

Is this Arbitrage?

waxwing you're right of course that one $10,000 lot will always equal one dollar per pip in both EUR/USD and GBP/USD but as I said if you were to use 5% of your equity on each then you would earn more for a EUR/USD pip movement than a GBP/USD pip ...

Has the GBPUSD always been King?

I don't know about metatrader but I know you have to pay for futures data.

how to see more markets

Hell no, I said DON'T buy at resistance and sell at support. Fade the initial move is a good trade.

FOMC Interest Rate Statement