Fickle Markets

Yesterday many prople were writing off Euro and many sites and alalysts were talking of selling the Euro. I have become much wiser in the last couple of years so I kept away from joing the gang and waited patiently for Euro to do contrary to what everyone thought. And lo and behold it is doing opposite of what people thought. Not a new thing but yesterday was a good repeat of what markets always do, make the majority wrong.

Plans of mice and Men……..

Last week has been one helluva week. This week showed me how best laid plans of mice and men can go awry. All my usual gambits of forex trading that work in  normal times  failed miserably, and red ink splattered over my trading balance sheet.
One learning has been : avoid those fast and cutthroat moves of pairs. They lead to sorrow.
The slow, involved and very boring moves are where the money is.
Fast furious and exciting lands with losses
Slow tedious and boring lands with profits

EUR/USD at Crossroads

Euro is trying to decide wherther to break out upwards against the USD or continue its recent downtrend. A beutiful congestion pattern is forming the resolution of which may  happen this week, leading to some large moves.

EUR/USD for a swoon down?

It looks like Euro is catching a cold. Whether due to the already discounted Fed’s 600 billion dollar splurge over next many months or Ireland or what not may be the reason, USD seems to want to take off, at least in a short term horizon.
As is usual eur/usd topped out by the time the fed and other news came out and now seems slated for the slaughter house having fattened up over last month.
I guess a target in 1.3300s looks plausible.
Let us wait and watch.
Cheers

GBP changed its trend to Down

GBP/USD has changed daily trend to down. Now one needs to look for selling opportunities on rallies.

Euro going up to its earlier top

Euro is shooting for its earlier top. Looks like a 100 pips move.

Has the rally run its course?

For Euro and stocks it has been a heck of a joy ride. Is it going to end now? The Indian stock indices have almost touched their earlier high and caution needs to be exercised, in terms of being a bull. Does it mean the ugly bear will raise its head to bang the indices down? I do not know, in fact no one knows. As long as the easy money is running thru the system and needs to find ways to generate a return it is going to make another few attempts to take the market up. So best is to let the market run its course and make the deision. It is always easier to let the others decide, why take the responsibility?
Time will tell, all I wish is I would be with winning side at every turn!!