You should not be surprised to see how often the market neglects news. It is very good. Why? Because it shows that there is a direction in the market and a strong trend. If the market is going up and some negative piece of information reaches traders they might take partial profits, but then buy quickly the security back at the previous support level. I have just seen it happen on eur/usd pair. Just look at the chart to see what a powerful reversal the pair saw yesterday and how it is recovering its' losses today.
I saw this happening hundreds of times. The tendency is strong. They same can be said about gbp/usd pair recently. Retail sales were down today (the report says), but pound traders refuse to sell the cable. They shrug the news off. They believe it is still right time to stay with the move till all negativity about US dollar is exhausted. I hope it will happen soon, but it may take up a few weeks for the market mentality to change from bearish to bullish.
Ok, enough for now. Hope to see you soon. Don't forget to buy presents for your loved ones.
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