Quote:
Originally Posted by the phoenix
In every trend there are corrections or set backs. To slide 3 cents in a day is not a reversal, but merely a dominoe effect of fear, resulting in a correctional sell-off.
Let it slide until the markets feel a little more optimistic and then when it starts to rise again - buy more. Now you can make profits from 89 cents...rather than the 93 cents it was at a few days ago.
How low will it go before we see a rise again? Or is that it - and will we see this a s the reversal?
My guess is that it will continue the trend upwards because tomorrow US GDP figures are released and that is expected to show that the recession has ended in usa...the first positive quarter of growth....and therefore its better news than 6 months ago.
Hope and fear......this is more like religion that I realised...LOL.
the phoenix
|
Yeah, if it responds to fundamentals...then AUD will continue to have an overall "leg up" on USD.
If fear starts to dominate the markets (if stocks fall), that's the only time when I see USD dominating most currencies. We'll see.
Stocks are well overdue for a major correction.
__________________
Come join me at the FXCM Las Vegas Expo along with the FXCM course instructors and DailyFX analysts May 3-4th: http://www.fxcmexpo.com/
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums:
http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
