World Clocks

Friday, January 30, 2009

Week 4 Jan 25 2009 Fed Week at the Forex


  • Remaining shorts from previous week have been covered today. It's possibly a little too early to exit, but we certainly are entering key support.  We're almost where we left off from the beginning of the week with the USD seesawing from bear to bull in a span of 5 days.
  • It remains to be see whether momentum through the weekend and early next week can breach approaching support.
  • This month can be summed up as a continuation of the bear move that started last month. The USD has stayed strong against most of the majors because the uncertainty that the markets can't and may not shake off in the near term.
  • Though not 100% correlated, the equity markets and sentiment will determine when we have a true reversal with EURUSD. For now it's selling the rallies, and if we do have a pop Long, it's taking the profits as soon as we have a bearish signal.  Overall, a great profitable month, 11 more to go. 

Posted by Seaducer67 at 11:33 AM

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Disclaimer

Foreign exchange transactions carry a high degree of risk and any transaction involving currencies is exposed to, among other things, changes in a country's political condition, economic climate, acts of nature - all of which may substantially affect the price or availability of a given currency.

Speculative trading in the foreign exchange market is a challenging prospect with above average risk. You must therefore carefully consider your investment objectives, level of experience and appetite for such risk prior to entering this market. Most importantly, do not invest money that you are not in a position to lose.