Mar 19 2009
Usd crestfallen!
What a move we saw yesterday as the FOMC rate statement came out!
Eur/usd was up 150 pips in less than 60 seconds!
Usd had double top and the long term trendline holding usd bulls broke and sellers came heavily in.
The move is still on with usd sellers not drying yet . Weekly analysis has hit its target with this.
Gbp/usd has moved 600 pips , eur/usd600 pips .
Usd sellers are heavy and we may see this move long . But we must wait for the retest of the broken trendline to eneter again . That will provide another great opportunity load positions for usd sellers.
With the stock markets on rally for last few days its time to take a break for stock market buyers and we will sell today and tomorrow in stock market which will help usd to reach its broken trendline where from next week we will see the fall again!
So get ready and dont fall for the trap!
