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What’s Rising in 2009: The Euro or the Dollar??
By Marek W. Stupka | January 3, 2009
With the arrival of 2009, many currency traders wonder what the next 12 months are going to look like for the two most traded currencies in the world. Is the dollar going to strengthen, as it did over the last couple of months of 2008? Or is the euro going to prevail, as had been the case in the long months before the 2008 crisis?
Since the New Year’s Eve, I have been asked this same question over and over again. My answer is: DO NOT TRY TO INVEST IN ANY LONG-TERM FX POSITION THIS YEAR !! After the emotion-driven market behavior in the late 2008, the markets are simply best set for short- to mid-term trades. Just look at the simplified technical analysis of the 1W and 1d EURUSD charts above and below, and observe their volatile character. TRUE MONEY in this market is to be made by following a proven, back-tested short- to mid-term trading system. No long-term market prophecy would make sense.
Strictly and with no exceptions, we at Gepard Investments, Inc. use The CANAAL for signaling openings of our short-term trading positions, and The CONFIRMATOR for signaling openings of our mid-term trading positions. For a better understanding of the basics on how these two systems work, perform a search for the systems’ names in the Search Box in the right navigation pane above…
Topics: FOREX Trading Analysis |