Discussion in 'Forex Trading' started by martingalaj, Oct 1, 2010.
buy usd next week!!!!!
there is no fundamental reason for currency to lose 5% in 4 weeks other than technical reasons..i know the reason but won't say it don't want to accuse anyone of market manipulation.
japan central spent 1-3 billion and to weaken the yen and it didn't do a damn thing...even the central bank of japan can't manipulate the forex so who what is moving the USD/g7 currencies?
yuan isn't traded and is pegged,,,yuan is undervalued since every currency has appreciate against the USD by at least 30% USD is now cheap or undervalued versus the yen,pound, swiss, cad,
china has no choice but to repeg the yuan.
i am technical trader . i am develop system of change of trend.
this kind of movement its of few days *weekly TF, not monthly TF
1-sell off of usd yesterday
2-usd trend down but not the worst in the week.
3-usd show some strengh in some minors TF.H4 TF.
4-usd not is the worst in weekly TF.
why? because on 09/15 usd broke key res to long against jpy (remember BOJ intervention)
my system based in thats 4 reasons.
Until Japanese parliament change its banking law, and raise its debts cap, BOJ intervention is extremely limited. I don't believe yuan is undervalued as many claimed. In both cases, American influence is very important, yen and yuan will move same direction which is in the best interest of American.
short AJ stoploss 81.50
long UJ stoploss 82.80
hold both trades
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