[AbeSmith]

	Quote:	Anna-Maria
	Hey Abe, You’re certainly much closer to the real reason in your highlighted comments above. There’s a very clear level of supply up at 1.49. (4 hour) demand kicks in layered from 1.4520 back to the stronger base at 1.4350, very visible on that timeframe & playable via the smaller (gambling) timeframes if that’s your weapon of choice. So, you got your range boundaries right there. Price is changing hands inside this upper trend cushion at fair value & won’t get hoofed outside until the Fundamental bias says so. It will move when the psychology dictates & not before. Europe has it's own conflicting data to deal with, not to mention the jerky economic scenario spewing out of the U.S of late. Currencies are sensitive to the slightest little variable out there & will turn on a dime if threatened. As long as you have your boundaries from the higher timeframes to work with, you can drill down into your favored templates & pick prices off according to the conditions. I’d worry less about what some guy (one individual) is spouting off & more about the reactions to the (mass) psychology. After all, that's what drives & dictates prices.

	Quote:	milliard
	Ecb are hawkish re; rates Abe. They’re commited (as are the BOE) to containing inflationary pressures, but of course are very aware & mindful of the conflicting pressures (growth v/s inflation) which our (US) economy are attempting to juggle. As Anna-Maria mentioned, when you get contradictory & opposing views & actions surfacing, the differing camps begin squaring up & re-positioning. This causes turbulance to prices, which in turn results in traders jostling for fair value (regards their positioning) & quite often, prolonged range behaviour until the scenario plays out. You then witness breakout, often violent in it’s behaviour, especially if the range begins to coil up. Obviously, if you possess the strategies to navigate these differing trade conditions, then you can shave profit both inside a range as well as in trend mode. If you don’t got those tools, then you simply have to wait patiently until conditions revert to your preferred method of execution. But it can be very beneficial if you recognize & understand the background of why prices are doing what they’re doing & what will influence their eventual destination if a certain scenario begins to play out. That way, you can begin establishing a core position in your favored instruments & not get hustled or shaken out of them prematurely via all the bustle, noise & heightened transaction costs which affect the smaller or gambling timeframes. One of the benefits I guess of digesting a balanced diet of Fundamental & Technical input.

Thanks Anna-Maria and Millard. I was very impressed by your comments. Seems like you know what you are talking about. Sorry for the late reply. I didn't have anything useful to add, so I will just say thanks.