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Not that there was ever any real doubt about debt and budget issues being sorted, but the fx market's reaction has been - indifferent.

I'm wondering if the lack of decent trends of late is due to the decline in global economy and the concomitant decline in the need for transfer of currencies to fund global trade, but then again, spot FX I understand is 85% speculative so that shouldn't be impacted by physical delivery of currencies.

I haven't been around the FX markets that long so perhaps they are as cyclical as anything else and you just have to sit out (sweat out?) these more difficult periods.
 
Sold very small usd jpy 98.64 with 85 stop
My chart says sell
My head says buy !
Won't be shy taking profit if goes my way !
 
Purple Brain said:
Not that there was ever any real doubt about debt and budget issues being sorted, but the fx market's reaction has been - indifferent.

I'm wondering if the lack of decent trends of late is due to the decline in global economy and the concomitant decline in the need for transfer of currencies to fund global trade, but then again, spot FX I understand is 85% speculative so that shouldn't be impacted by physical delivery of currencies.

I haven't been around the FX markets that long so perhaps they are as cyclical as anything else and you just have to sit out (sweat out?) these more difficult periods.
Click to expand...

I'm only guessing as tend to only concentrate on price alone these days
but some possible reasons below.
As u already mentioned the weak global economy does not help.
Tied in with that we have near low/near zero interest rates around the world.
I think once economies improve and we start getting inflation and interest rate rises this should increase volatility and money shifts to higher interest rates.
I'm also guessing the increase in algo computer driven trading could reduce
volatility on most days (although I'm sure we will have the odd huge
algo driven move on occasion when liquidity dries up and they all sell
at same time !).
This is just my humble opinion and I'm sure there are people with much
more understanding on the subject !
 
FX Punt - in case you're kicking yourself I did the same thing on eur/usd and usd/chf earlier. Got out for single digit pips ahead of the big move. At least you made reasonable gains.

Reset trading plan. Start again.
 
Purple Brain said:
FX Punt - in case you're kicking yourself I did the same thing on eur/usd and usd/chf earlier. Got out for single digit pips ahead of the big move. At least you made reasonable gains.

Reset trading plan. Start again.
Click to expand...

Yes not quite kicking myself as was unsure
when entered the trade. I planned to take
quick profits.
As u say start again
 
scholfield said:
I haven't trader GBPJPY in about 2 years.
My God, is it usually like this?! Never seen such a choppy instrument. Horrid.
Can't bare to look at it anymore, so closing trade here for breakeven
Click to expand...

Most instruments were choppy and tight range today. Delayed NFP is out tomorrow morning and many traders are sitting on sidelines until then.

Peter
 
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