ForeXcast Update: Overall Market Trend

Just a quick update for you guys. The market, on the whole, has been somewhat erratic and basically trendless. I predicted movement in EUR/USD and it moved earlier in the week but the sentiment of the market has changed. There are trades to be made but only for a short amount of time, merely a few hours. I would suggest that if you enter into one of these short-term trades, that you exit your position as soon as the desired profit is made. Do not be greedy, it may not produce a result that is favorable. I continue to stress the fact that you should not enter any trades unless you see the right setup, where you know that the capital you put up for that trade will increase when the transaction is made.

Take a look at this chart of EUR/USD and the trend it is in:

eurusd212092

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s