Hello everyone, I'm relatively new to forex and I've come to the conclusion that indicators and EA's are not worth the harddrive space they occupy. I think it's time to "cut the crap" and start reading the writing on the wall (aka Financial Times) and trying to interpret it for the truth.
I'm still a newbie and there's no reason you should listen to me and no doubt more experienced traders will heckle me and jeer me if I'm wrong but I think the Euro is in for a huge fall over the next few months.
I say this for 2 reasons:
1) I had a dream that its going to happen. (Yes, I dream about forex)
2) EURUSD has been stuck in a ranging market for the last few months and the price has to go somewhere sooner or later. Just looking at the chart I can almost see it. And I'm talking about a HUGE fall. (down to late 20's, early 30's at least, but possibly much lower)
OK there are some other reasons... US economy seems to be getting out of the resession faster than Europe. China aren't going to sell their US dollar reserves because other countries will just snap them up at bargain prices. On top of all that the US has a leader that people actually listen to. The EU doesn't have a leader until the Lisbon refferendum is voted in. Strong countries need a strong leader, but even a weak leader is better than no leader at all.
I will be taking this trade myself (no not in demo mode) and if my prediction turns out to be right I may add more lots in the upcoming weeks.
I'm still a newbie and there's no reason you should listen to me and no doubt more experienced traders will heckle me and jeer me if I'm wrong but I think the Euro is in for a huge fall over the next few months.
I say this for 2 reasons:
1) I had a dream that its going to happen. (Yes, I dream about forex)
2) EURUSD has been stuck in a ranging market for the last few months and the price has to go somewhere sooner or later. Just looking at the chart I can almost see it. And I'm talking about a HUGE fall. (down to late 20's, early 30's at least, but possibly much lower)
OK there are some other reasons... US economy seems to be getting out of the resession faster than Europe. China aren't going to sell their US dollar reserves because other countries will just snap them up at bargain prices. On top of all that the US has a leader that people actually listen to. The EU doesn't have a leader until the Lisbon refferendum is voted in. Strong countries need a strong leader, but even a weak leader is better than no leader at all.
I will be taking this trade myself (no not in demo mode) and if my prediction turns out to be right I may add more lots in the upcoming weeks.