Thursday, April 21, 2011
Trend for 21st of April 2011
Today my post will be pretty short. I just wanted to point out one specific breakout that could lead to a long term trend. That breakout was in gbp/usd pair. The pair was trying to take out 1.6430 level a few times, but failed. Today during the European session the pair was finally able to break the level and at the moment it is 150 pips away from the level. Good rally! The same kind of breakout happened in eur/usd pair two weeks ago on the 6th of April.
Other pairs such as nzd/usd, usd/cad, aud/usd and others have been in an uptrend against dollar for quite a long time. To tell the truth I believe in a matter of a year or two years time we can see an absolute disappearance of US dollar. I am not going to elaborate on that now, but maybe will talk about the subject in a couple of weeks. In fact, I am convinced that we are moving to one world currency quite soon. I am not happy about it, but I think that it is inevitable. So, be sure to diversify your investments and not to trade only currencies.
Read my previous post:
Trading financial markets carries a high level of risk, and may not be suitable for all investors. All information on the blog is of educational nature and cannot be considered as advice, recommendation or signals to trade in any financial markets.