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I think that the fast movement on EURUSD is because this morning the released economic news on EURO side were negative:
http://www.dailyfx.com/calendar?tz=&sort=date&week=today&eur=true&usd=true&jpy=true&gbp=true&chf=true&aud=true&cad=true&nzd=true&cny=true&high=true&medium=true&low=true
and the traders waited for the US economic news and when the balance was on the USD side the EURO falled.
You mean - this one? (I am posting press releases on this thread just to separate the news and trades) :
Forum
Press review
newdigital, 2013.07.02 11:02
2013-07-02 09:00 GMT | [EUR - Producer Price Index (PPI)]
(MoM)
(YoY)
================
Eurozone Producer Prices Fall For Second Month :
Eurozone producer prices declined for the second consecutive month in May, largely reflecting weak energy prices, data published by Eurostat revealed Tuesday.
Producer prices slipped 0.1 percent on a yearly basis, after falling 0.2 percent in April. This was the second consecutive fall in prices. Economists had forecast prices to remain flat in May.
Month-on-month, producer prices fell 0.3 percent, which was slower than the 0.6 percent decline seen in April. But the rate of decline slightly exceeded the consensus forecast of 0.2 percent.
Prices in total industry excluding the energy sector increased 0.5 percent from a year ago, following a 0.6 percent rise.
Durable consumer goods gained 0.7 percent and non-durable consumer goods rose 2 percent. Likewise, capital goods increased by 0.6 percent, it said.
Meanwhile, prices in the energy sector decreased 1.8 percent and intermediate goods fell by 0.5 percent.
Forum
Press review
newdigital, 2013.07.02 16:28
2013-07-02 14:00 GMT | [USD - Factory Orders]
===========
U.S. Factory Orders Rise Slightly More Than Expected In May
New orders for U.S. manufactured goods rose by slightly more than expected in the month of May, according to a report released by the Commerce Department on Tuesday, with the increase largely due to a jump in orders for transportation equipment.
The Commerce Department said factory orders surged up by 2.1 percent in May following an upwardly revised 1.3 percent increase in April. Economists had expected orders to increase by 2.0 percent compared to the 1.0 percent growth originally reported for the previous month.
It was long time ago today ...
This 50 pips in profit (on equity) is trade opened on EUR PPI at 11:00 MQ time (or 09:00 GMT). But price was not moved on that time ... it was nothing ... just +5 pips only ... and there is no any news events for now - but price is moved to +50 pips now with no any news event ... that is strange (good but strange)
Could be,
let's wait for tomorrows morning EURO news.
It was 23 pips on German service PMI for EURUSD - just see this chart :
MetaTrader Trading Platform Screenshots
EURUSD, M1, 2013.07.03
MetaQuotes Software Corp., MetaTrader 5, Demo
eurusd 23 pips
Forum
Press review
newdigital, 2013.07.03 10:39
The other news event which was today are the following:
2013-07-03 07:53 GMT | [EUR - German Services PMI]
If actual > forecast = good for currency (for EUR in our case)
===========
Germany June Service Sector Rebounds Less Than Initially Estimated :
The Germany service sector returned to growth in June after shrinking in the previous two months, but the rate of growth was slower than initially estimated, final data released by Markit Economics and BME showed Wednesday.
The seasonally adjusted purchasing managers' index for the service sector rose to a three-month high of 50.4 in June from 49.7 in May, moving above the no-change 50 mark - which separates growth from contraction - for the second successive month. The revised score was, however, notably lower than 51.3 estimated earlier.
Data showed that part of the upturn in service sector activity was driven by the completion of outstanding projects in June. New orders in the sector decreased for fourth consecutive month, although the rate of contraction eased to the slowest since March.
Firms lowered their workforces further during the month. Though the pace of job shedding was only moderate, the latest fall was the most marked since September 2012.
Meanwhile, confidence about the prospects for the German service sector has weakened over the next 12 months, with the degree of positive sentiment reaching the lowest so far in 2013.
At the same time, the composite output index, which measures performance of both the manufacturing sector and the service sector, advanced to 50.4 in June from 50.2 in May, indicating a modest acceleration in overall growth. The flash estimates were for a score of 50.9.
This is same ssituation - no any news event ... nothing ... but price is moved in good way ... why?
MetaTrader Trading Platform Screenshots
EURUSD, M5, 2013.07.03
MetaQuotes Software Corp., MetaTrader 5, Demo
same situation
because news are triggered by the movement of price, and not vice versa.
here goes your reversal.
because news are triggered by the movement of price, and not vice versa.
here goes your reversal.
because news are triggered by the movement of price, and not vice versa.
here goes your reversal.
my first sentence is answer on your latest post.
and then, by saying 'here goes your reversal', i have suggested that €$ trend will reverse now, or has already started, as this is the subject of this thread.
generally trying to predict any event (like trend reversal) is impossible and trying to trade in such manner leads to loss, sooner or later.
so my prediction has no weight, and no one should take it seriously :)
however it is based on intuition and knowledge about trading, so it might have a 51% of probability of being correct instead of 50% :)