Discussion in 'Forex Trading' started by whowah, Feb 26, 2004.
From the look of this chart it looks like the US Dollar Index is a buy.
Time will tell.
The real trade will be to sell it again, any longs will be profit taking, not a new trend, theres a difference !
I agree. The nature of the fx market has changed somewhat if it ever was different. We don't trade in a buy and hold long term environment like perhaps the stock market may be more inclined to do.
In fx most fast run ups are followed by profit taking as long as there is no structural reason for the quick run up
The buck shot up over 500 points on thin air in a week... watch for the profit taking soon.
You guys are plain wrong, the dollar is turning around. DX hit multi year support, same with Swissie wich has shown diverging strength. Too many dollar bears, technicals show the way. But the market will have the last word.
I read all the bears arguments, interest rates, trade balance ECB won't cut etc., these sound like excuses, rationalization. I look at the charts I don't care what the fundamentals say. Everybody thinks the dollar is going further down, at the very least we are in a lprotracted consolidation here. Cable is also at the top of a multi decade range.
Your last 2000 trades were profitable?
I am looking forward to reading about your future
currency hedge fund .... or future head trader at
goldman fx desk gig
good luck ... keep us posted
Marc Faber is calling for a Long USD and Long US Equities as the ultimate contrarian trade this year.
Click on Market Commentary for the article in question.
I concede I would like the dollar to bounce and come back since my trading profits are in dollar and I am outside the US. I would just love to see this most ridiculous pound crash to the basement like in 1992 .
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