Dear All,
I would like to share my own personal point of view regarding the recent price action in the forex market....The Dollar got hit during the past 2 weeks (Including this week)...Although many indicators might point towards bearish dollar in the coming period, I am totally against this opinion...
My own analysis suggests that what we are seeing today is almost the last dollar selloff & that we are poised towards a dollar rally in the next couple of days or weeks ahead...
You can call my analysis a primitive one or not as valid, but I am just saying my opinion....I am not asking anyone to follow this opinion, but everyone must do his own homework & take the appropriate trades according to his/her methodology...
In brief words, I would buy USD on all fronts & I would short all European currencies...This is my own expectations & analysis...The market has been turning from dollar bullish to dollar bearish in a very relatively short time over the long term, that's why I believe that this is the end of this corrective wave...
Please, don't take this opinion as a trade recommendation, although at this point, it seems that it's one of the best risk/reward trades I have ever seen...I am just opening a door for a discussion about the recent price action, not for recommendations...
Hope that everyone shares their point of views & ideas...
Thanks,
Nader
I would like to share my own personal point of view regarding the recent price action in the forex market....The Dollar got hit during the past 2 weeks (Including this week)...Although many indicators might point towards bearish dollar in the coming period, I am totally against this opinion...
My own analysis suggests that what we are seeing today is almost the last dollar selloff & that we are poised towards a dollar rally in the next couple of days or weeks ahead...
You can call my analysis a primitive one or not as valid, but I am just saying my opinion....I am not asking anyone to follow this opinion, but everyone must do his own homework & take the appropriate trades according to his/her methodology...
In brief words, I would buy USD on all fronts & I would short all European currencies...This is my own expectations & analysis...The market has been turning from dollar bullish to dollar bearish in a very relatively short time over the long term, that's why I believe that this is the end of this corrective wave...
Please, don't take this opinion as a trade recommendation, although at this point, it seems that it's one of the best risk/reward trades I have ever seen...I am just opening a door for a discussion about the recent price action, not for recommendations...
Hope that everyone shares their point of views & ideas...
Thanks,
Nader