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Posts by "forextrader"
130 Posts Total by "forextrader":
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Posts by Anonymous "forextrader":
It is all about the risk to reward ratio,, I entered the market risking 60 pips for a possible 700 pip which means 1:11 risk/reward ratio.
The USD is over sold technically against the CAD, RSI in the 4 hours chart is conversing up wards, add to this that the stock market is overbought and it is also due for correction. Which is a dollar positive.
By the way I moved my stop loss to break even now.
Dima
I entered the market today with 5 standard lots long USD/CAD at 1.075 target 1.14-1.15. Hopefully we will get there in the next few weeks ahead.
Wish me luck guys.
Dema
If US economy is doing bad others are much worse, the USA is still leading in many fields and home to many of the most will known global brands such as Google, Microsoft, Boning, oracle, Apple ...ect
And the are by far the strongest country in earth.
Can you name me 10 Canadian or Chinese global brands?
If the pair end the day below 0.66 then I see double top formation.. very barish I will be inclined to sell the pair rather than buy . with stop loss above 0.665
Good luck
Traders like me and you and many others , start to take profit when the Euro/USD reaches 1.427ish which pushes the euro down... in order for this level to be broken we need either a big news announcement or anther few days like today.
Dema
Hello rajesh68
The opposite scenario happened between between early Feb and Early march
At that time the stock market fall by more than 10% but at the same time the Euro mange to hold it self, and the when the stock rallied in mid march the euro went up with it.
Now the opposite, the USD mange to hold it self despite the huge rally in stock, if next week stock market start to decline expect a big rally in the USD .
Guys if some one told me 2 weeks ago that sp 500 is heading for 10% rally, I will of said GBP/USD at 1.70. Euro/USD at 1.47
Dispute the huge rally in stocks Euro still at 1.425 GBP 1.652
In my mind this is a very bearish signal, euro/usd at 1.38 and GBP/USD at 1.58 in the next two weeks.
Dema
If you want to make money in the next few weeks then you have to buy Yen and USD on dips,
GBP/USD target around 1.55. Euro/USD 1.35, AUS/USD 0.73
Dema
British Pound is sell now against yen and US dollar target 141.50 on the yen and 1.55 against USD .
Dema
I am bearish dollar long term but I see dollar strength against all the major currencies except the Yan for the next 3 months.
Regarding Aud/USD will I will not advice to short it because it is very expensive to hold
i.e. for 1 standard lot you have to pay your broker around 50+ pound a week just in interest to hold this position. I see AUD to fall to the 75-76 level in the next 2 months.
They are better trade such as Short GBP and Euro against the dollar you profit target is around 1.56,,1.35
And you could place your stop just above the resistance line I.e. you the risk to reward ratio is around 1:4