Thursday 5 January 2012

4-Jan: A horrible day for Eur/usd traders

January 4 [yesterday] was a horrible day for eur/usd traders.It was impossible for traders who can highly predict the next forex movements. I watched everybody's guess turn into dust.

The currency pair started the day at 1.3051. We all predicted its upwards shift due to its incomplete cycle
and continuous uptrend moves. But it didn't react in that way, it touched 1.3072 for a moment only then swiftly backed down. It rallied to 1.2975 at 12 gmt, everybody thought that the rally is done. But surprisingly it went further down to 1.2897. The day was really a bad one.

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