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Secret of trading on news

Secret of trading on news

In the Forex currency market, it’s quite common that the important economic news comes out and in a few seconds after that the price can cross the established level of the stop order. How’s that happening?

EUR/USD: When nothing happens, the pair moves up

EUR/USD: When nothing happens, the pair moves up

EUR/USD is trading at 1.1637, up some 50 pips from the lows of the day at 1.1585 and some 80 pips from the lows of 1.1555 seen earlier in the week.

There is no sole driver that pushes the pair to the upside, but data has been positive. The European Commission upgraded economic forecasts for the euro-zone, from 2.1% to 2.2%. ECB member Benoit Coeure said that the 19-currency bloc is seeing robust growth.

GBP/USD: Forget the hike, watch Brexit

GBP/USD: Forget the hike, watch Brexit

Pound/dollar is still trading at the same wide range between 1.3030 to 1.3320, but leans towards the downside. The dust has settled from the rate hike and the focus returns to the Brexit talks. Here are two opinions:

Here is their view, courtesy of eFXnews: