Ok, we admit, yesterday’s bearish momentum of EUR/USD was much stronger than we expected

Posted Tuesday, January 24, 2012 by
Dave Green • 2 min read

Hello to all of our market leaders!

Well, fellows, the market these days is full of action and happenings. Let's check out for current opportunities!

Few days ago, I made a big mistake, closing my bearish position on the pair EUR/USD. Why was it a mistake? Because after few days of a massive downtrend, I thought to myself “this pair has been going bearish big time, it is time to exit trade and enjoy my profits!”, and that’s what happened. But that was a mistake! EUR keeps weaken and weaken, reacting the very problematic situation in Italy, Spain and Greece. I could have made much bigger profits as I see it now.

I had a great talk with a senior analyst in one of the big brokerages yesterday. An interesting point that he mentioned was “Traders must be aware these days of the volatile movements, but I wouldn’t suggest being too aggressive with your tradings because Market is sensitive”.

Signal of the day

 

Yesterday was stormy, guys! You could have taken the highway in several different occasions. FXMarketLeaders free live trading signals offer you a number of market alerts on great opportunities. Click here to go to FXMarketLeaders signals page to start follow our experts! My favorite signal yesterday was:

BUY GBP/USD, ENTER POSITION:1.5640  /  CLOSE POSITION:1.5793.
153 pips in less than 5 hours!


Event of the day: Better than expected macro releases in British market. Surprising decrease in Claimant Count Change (number of unemployed searching for jobs) has led to incline of GBP/USD, opening great investment opportunities for our market leaders.

Trader of the day  

eToro's OpenBook trading network is the largest social investment network in the world, allowing you to trade social, by choosing, following and coping other traders for free. My trader of the day is Waleed0987, from Saudi Arabia, With 317 followers and 159 copiers around the world.

guru's name - Waleed0987

Throughout the last week, Waleed0987 has been trading only currencies. Waleed is a low-medium risk trader. His 2 favorite pairs are EUR/USD, with excellent profits run during the last couple of days, and AUD/USD. 

With very high winning ratio, mostly on intraday tradings, Waleed0987 scores high as my trader of the day.

Trade social – Join OpenBook.

     Market Opportunities

Get ready for tomorrow: What leads me to a big market opportunity on the EUR/USD: It seems like in the longer term, that tendency is going to keep track. I am afraid EUR is just ahead of breaking new lows record, falling below the 1.4000 point during the coming 5 days to few 3 weeks.
Bottom line- Get ready for a massive EUR/USD downtrend- signaling Sell EUR/USD

Author thoughts – Other trading opportunities to get ready for:

* USD/CHF might go bullish in the long run- Buy USD/CHF seems to be a potential investing for the next few weeks
* Sell AUD/USD might be a good option for couple of days
Bottom line- Tomorrow seems to be a day full of market opportunities. Traders will look for major movements. EUR is going to open nice earnings options!

Tip of the day

Gold and Silver are breaking records, going up without looking back! With uncertainty on the foreign currencies, many traders put their money on gold and silver.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
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