Tuesday, August 2, 2005

New Trade: EUR/USD

"Recent moves by central banks in Asia and elsewhere have led to dollar selling and euro buying.''

I bought the euro at 1.2182 last night, and the position has already geared into a 40-pip profit this morning. Last week, I suffered a minor losses, as a a result of uncertainty and lack of vision. After reviewing my technical charts last night, I am expecting some trend reversals in this two weeks.

The euro is currently the first to lead the pack, however, possibly a false breakout for Yen (still uncertain after recent bank moves). Will continue to updating the situation.

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