6th September 2008,
Those who remained at "short" for EURUSD must be pleased as this week noticed a clear decline. This move was apparent when referring the weekly and monthly charts. It still shows the same direction towards 1.4000 or even 1.3800 ! Yes, the daily, hourly , and minute charts were indicating the opposite direction and remained complex. These charts might have tempted the traders for long positions since they were suggesting euro going up. Let the market start off , first, after the weekend close, and then see where to be, because the starting few hours will rather clear the picture being more persuasive.
Though, being at short for EURUSD with remote stop orders seems to be the "would be" profitable at this point. For those risk-taking people, this is the best favorable market situation at the moment. The closer stops may be hit and chance of loss would happen.
Those who remained at "short" for EURUSD must be pleased as this week noticed a clear decline. This move was apparent when referring the weekly and monthly charts. It still shows the same direction towards 1.4000 or even 1.3800 ! Yes, the daily, hourly , and minute charts were indicating the opposite direction and remained complex. These charts might have tempted the traders for long positions since they were suggesting euro going up. Let the market start off , first, after the weekend close, and then see where to be, because the starting few hours will rather clear the picture being more persuasive.
Though, being at short for EURUSD with remote stop orders seems to be the "would be" profitable at this point. For those risk-taking people, this is the best favorable market situation at the moment. The closer stops may be hit and chance of loss would happen.
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