EUR/USD Explanation

talkgold124 · #1 08-27-2008, 02:48 PM

Anybody here can tell me what happened with EUR/USD begin august?
Why did it fall from 1.5587 to 1.4727?
That is almost 800 pips.
Did anybody see this coming and made some money from this pair?

**FOREXSIGNAL** · #2 08-27-2008, 02:52 PM

Gold price has direct relationship with EUR/USD .
It fell from 1.5587 to 1.4727 because gold price also fell.

FerruFx · #3 08-28-2008, 02:24 AM

Quote:

Originally Posted by talkgold124

Anybody here can tell me what happened with EUR/USD begin august?
Why did it fall from 1.5587 to 1.4727?
That is almost 800 pips.
Did anybody see this coming and made some money from this pair?

This is forex and the big guys are playing as they want ... as they need.

FerruFx

FXHOY · #4 08-28-2008, 03:18 AM

I think you would be hard pressed to find over 60% correlation between gold prices and that of any major currency aside from possibly the AUD. There are MANY factors that go into a correction but as mentioned by FerruFX when the big boys want to move the market they move it and we as small timers simply try to ride their coattails.