The market had many large price moves during news announcements which
could be wildly profitable if the trader had the discipline to be on the
right side of the trades. One of the most volatile pairs this week was
the Gbp/Jpy and we had several days with over 100 pip daily ranges.
The Eur/Usd is more steady and a good pair for new traders because the high volume. The Eur/Usd is the most traded pair in the world. This week we have been in a range in this pair. The lows are at 1.3450 and the resistance is at 1.3700. Currently the pair ended Friday higher testing the 1.3700 level and there is also major resistance at 1.3800
If the price drops below the 1.3450 look for the price to move to 1.3200
4hr Chart
One other key note is that this morning there was a rumor that was released on twitter via traders. The rumor was that the GBP News announcement was going to be better than expected and the GBP rose on the rumor and when the news came out the rumor was right on and the news came out better than expected and the pair dropped hard on the actual news release.
The Eur/Usd is more steady and a good pair for new traders because the high volume. The Eur/Usd is the most traded pair in the world. This week we have been in a range in this pair. The lows are at 1.3450 and the resistance is at 1.3700. Currently the pair ended Friday higher testing the 1.3700 level and there is also major resistance at 1.3800
If the price drops below the 1.3450 look for the price to move to 1.3200
4hr Chart
One other key note is that this morning there was a rumor that was released on twitter via traders. The rumor was that the GBP News announcement was going to be better than expected and the GBP rose on the rumor and when the news came out the rumor was right on and the news came out better than expected and the pair dropped hard on the actual news release.
