Last 2 months for me market movement more to Fundamental influence from Technical, if I can give the value price movement 75% on Fundamental and only 25% on Technical. So what the effect to trader? firstly it's can give a lot false signal depend what technique you using,if your technique more to retracement and following trend that good but if your technique ignore the trend that give you a problem
EUR/USD - the main problem now for this year we saw the weaknesses USD give a major problem, that give a more value on EUR and now we saw EUR trend always up, so are we see a new high from EUR? that difficult to say because USA will take any action to protect dollar
GBP/USD - last year we saw a price up to 2.1 and suddenly back to under 2.0, at same time Yen value also up,this pair actually hard to understand because it expose to many current economic issue,normally this price will affected movement on GJ,so I means you need understand market situation what pair lead the direction,who follow who.
EUR/YEN - Personally I like this pair more to GBP/USD, but for now the correlation was changed, when the EUR value now high the direction market more to EUR direction where the EUR up EJ also up,before this the direction depend on GJ movement, and GJ lead the direction all major pair, EJ now look confius to follow Yen or EUR,so that give more problem to trader to understand and predict the market price.
so I think enough for this time and NO SIGNAL FOR TODAY TILL 10.59 PM
Thursday, June 26, 2008
OVERVIEW MARKET
Posted by pips at 7:20 AM
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