A flurry of indicators since last week had risk-aversion pervade the whole nine yards of the FX market. As a result, he USD has been on a rampage all week. This could tonight, though with preliminary US GDP data and Unemployment Claims expected to come out in the positive.
If the numbers come out better than expected, the major USD pairs could turn around after about 4-8 hours of volatility. However, if things continue to be as bad as the past week has become, we could see theses pairs reach intra-month lows.
My plan... to wait in 'ambush' for either of the eventualities.
Trade details to be posted soon.
Proud and Hoping
15 years ago
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