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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 100
Posted: Feb 22, 2010 5:00
Comments: 100
Forum Topic:
Trading, Analysis (Technical/Fundamental)
Discuss Trading, Analysis (Technical/Fundamental)
http://www.investopedia.com/articles/forex/06/ScalpFundamentally.asp?partner=fxweekly3
I have been amazed at Ashraf's analysis for quite some time. He certainly has been a wonderful educator. However, lately he has been a little off, and a little slow on pulling the plug.
I just reviewed all the IMT's that are still posted. I hate to say this, but it has been a tough go of it lately for Ashraf. No one can be perfect, especially in these FX markets.
I have confidence Ashraf will get back on track. I am not sure it will be with this current bearish call on Gold, or picking on the strongest of all currencies lately the Australian Dollar.
As the dollar Index is comprised of over 50% Euro, it has been easy to be right on that call and still be on the wrong side of others, yet still come out ahead. May I suggest as it appears much of Ashraf's analysis is based of the USD index, then stick with trading euro instead of the others.
On the daily chart, USDJPY is touching the lower trendline support (~ 88.30) in the downward channel from 8 Jan. Do you think it will bounce up from here ?
http://blog.t3live.com/2010/02/meet-trader-x.html
Regarding your "fresh shorts" above 1.37. All the analysts are out being Weatherman today, pounding the table that euro will be bought on any dip. Just last Friday and Sunday on open same WEATHERMAN were saying euro would be sold any rally.
Again, the wind is blowin' up fo euro, so WEATHERMAN exhalt the masses to buy euro hand over fist. When it breaks 1.35 again, same WEATHERMAN will be screaming what the new downside target is, never ever even mentioning they told everyone to buy all dips in euro.