TRADING FOREX MARKET
The fact is that pattern exist is evidence of price manipulation, which in turn creates predictability that produces profitability for those who can see the patterns.
Greggory L. Morris
Wednesday, November 10, 2010
USD/JPY (-48)
moves in USD are still dictating the trades as we approach the G 20 meeting, and risk appetite was on a decline on the back of declining prices of oil, and weaker gold. Pair was showing stabilization bellow 82.00 level what is telling us that the market participants are not ready to start taking profits because they expect further decline in USD and more JPY gains. For the ones that believe this it is an excellent opportunity to start a new short with stops at 82.20, and target at 80.70, and then 79.80.
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