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Wow guys! EU have made such a huge come back this week.Personally I think that market liquidity is to low because of upcomming vacations and year end so I would prefer to stay away from the market for a while...from other side it is a good time for risky traders to x5 . x10, x 20 or more times their accounts.
Everyone should realize what kind of risks he/she can afford to manage and do not brake it's limits.
Regards.
Nearly 2000 pips in a week and just before I decide to go to France too. You know, I was going to exchange $1000 into Euros last week, but I figured it wouldn't move too farfrom 1.3000 level. How wrong was I?
My holiday just got a little bit more expensive
EURUSD – Forecasts for the Euro/US Dollar currency pair have now shifted to the downside, as a flip in retail forex positioning signals that the recent Euro/US Dollar uptrend may reverse. Last week we cited extremely net-short “crowd” positioning as a clear sign that the Euro would rally, but the forex crowd has now capitulated and the majority of traders are now long the EUR/USD. Indeed, the SSI ratio currently stands at 1.18 as nearly 54 percent of traders are long the pair. Yesterday only 40 percent of traders were long, and these reversals most often occur at turns in price. As such, our SSI-based forex trading signals recently went short the Euro/US Dollar via a sentiment-based trading strategy.
Nearly 2000 pips in a week and just before I decide to go to France too. You know, I was going to exchange $1000 into Euros last week, but I figured it wouldn't move too farfrom 1.3000 level. How wrong was I?
My holiday just got a little bit more expensive
The US dollar has many fundamental reasons to pull back, including: the White House’s auto bailout that may help to boost risk sentiment, the Federal Reserve’s aggressive rate cut last week, and the prospect of quantitative easing that could drive long-term interest rates lower. However, over the next week, the big question is: what sort of price action will we see? With the Christmas holiday looming on December 25, many of the world’s financial markets will close and trading volumes will fall dramatically. Thin markets have a tendency to result in either very choppy or very quiet price action. Given the volatility seen recently, there’s a greater risk that these sorts of trends will continue, but they may ultimately leave the US dollar consolidating above its recent lows within wide ranges.
Please note that trading conditions over the Christmas and New Year Holidays will be changed as follows:
FOREX, Spot Precious Metals:
closing on 24.12.2008 at 20:00 (terminal time)
opening on 26.12.2008 at 09:00 (terminal time)
closing on 31.12.2008 at 20:00 (terminal time)
opening on 02.01.2009 at 09:00 (terminal time)
From 24.12.2008 to 02.01.2008 inclusive:
a) the Maximum Spreads mentioned in Contracts Specifications will be increased by 3 times the normal level (ie eur/usd - 6 pips, gbp/usd 9 pips);
b) levels of Stop&Limit will be also increased by 3;
c) leverage for all accounts will be reduced to 1:33;
The change in trading conditions is due to the thin illiquid market during Christmas week. There may also be periods of greatly increased volatility.
We strongly recommend that you decrease the amount of opened positions, use Stop Losses and maintain margin level above 100%.
The whole FXOpen team wishes you a very Merry Christmas and a Happy New Year!
haha good holiday jafar
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