The market makes the news

Posted by Scriptaty | 8:23 PM

It might seem odd the news doesn’t dominate the price action in foreign exchange. You’d think hard data would always have the same effect on price moves –– but it doesn’t. The same data is powerful during a trend and feeble when a trend is either not present or in the process of retracing. It pays to know what the professionals are thinking, and you can be sure that a good part of what they are thinking is informed by the chart itself.