Forex

i do not believe in "overbought" anymore, this is why I stick to fundamentals & no more technical analyses before the market stabilise...

OIL 101.55 - 106.50 in one day

there is your reason, now why oil went up so far in one day I do not know or understand but it will explain the rally today, OR maybe the rally explaines the rise in OIL??

Don't understand why all the mystery about today's move. Just look at the Econ Calender and you'll have your answer.

I agree with part of what you're saying but I've seen too many times when after positive data a currency went exactly the opposite way. On the other hand, from my experience, severely overbought/oversold studies will prompt a bounce or pullback most of the time, if not immediately, then in a day or two.

There's no question these markets are whipping around a bit as the dollar continues to sell off. But the problem is that it's happening on extremely light volume.

The lack of volume decreases the predictability as the currency will trade ”out of character“ making short term trading a difficult undertaking

have been caught a couple of time recently at being right too soon in anticipating those overdue pullbacks, mostly in gone crazy eur/cad but also on eur/usd and aud/usd.Looks like there is something out of the usual in
this market.For instance on eur/cad the pullbacks were so fast that they
left only long tails behind on the lower TL, some in a matter of half an hour,
as out of a spring box. But i keep trying to convice myself that the fasterit
goes up the faster it goes down... but no sure way to tell when if price
does not seem to care about obvious barriers like the long term down TL that should have halted, at least for amoment the rise of eur/cad , with oil at
111. and the still better than average fundamentals of Canada. I just Heard
om the french tv tonight that the government there has reduced the
forecast of growth by half and large businesses complaint since over a year
of the strenght of eur but Trichet pours oil in the fire and the beat goes on...

iam on the edge of a chair here

Y,what did u do ,a long?

I'm short at 1.5830...with a tight stop...I'm a bit of a chicken at these levels. I still think it could go up in a heartbeat.

I'm short @.83175 as well, hopefully this does the same as last night!!