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Forex Envy

Sunday, June 3, 2012

SHOULD BE AN INSANE WEEK FOR THE EURO! CALLING ALL DOOMSDAY PREPPERS!!

With the United Kingdom on holiday (Spring Bank Holiday), everybody will have their eyes on EUR/USD and the upcoming ECB meeting on Wednesday.  Everybody (all markets it seems) are in panic mode once again and if your expert advisor or system is looking for volatility we would venture to say we're going to see some great swings and opportunities.  The funny thing is that this happened a few months ago, and everyone was on a frenzy to sell EUR/USD (with myself included) when a major retracement came on the daily.  People got washed out and the banks went short again.  This is typical with sentiment.  If everybody and their brother is short in EUR, then someone has GOT to be long, everyone washes out (I believe the spec community calls this "stop-hunting"  although its just the way of the market...

Comments welcome on this all!

Cheers!

GLGT!!!

1 comment:

  1. well will you look at that 1.25 on the EUR. People getting stopped out. Then they'll go short again.. Mark My words on that!

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