Monday, September 19, 2011
Trend for 20th of September 2011
Hi, trend trading lovers. My computer has been repaired today, so I will continue my posting as usual. I did not have much time to look through the charts, so I won’t write a long post today too. I have just looked at commodity pairs. I know that you can remind me my positive position towards those and say:”Look, do you see where they are going?” Yes, I see. But this is short term. Those who want to make serious money in the market have to concentrate on long term picture and do not overtrade using short term moves. Hope you see what I mean.
So, I looked at my charts and I see that eur/cad is at support now. I am short term bullish for the pair. Long term, I am bearish. Euro will collapse, because they have too many problems and too few ideas how to solve those. I believe it will be number 1 loser in currency market in the days to come.
Australian dollar has been falling. However, if you remember my post where I talked on eur/aud, that it can be a leader in a bullish move of Australian dollar, I hope you see that I was right. I has reversed recently, but I am sure that it won’t continue for a long time. Just remember, that currencies that have been weak for a long time will rally at some point and become biggest winners from biggest losers. I do not believe it be for a long time though. So, I am looking forward to more weakness in eur/aud.
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.