Do your own research, below is simply my opinion, choices made are always your own.
Currencies, split into 3 categories Bulls (expected to rise), Bears (expected to fall), Sheep (skittish, twitchy, looking to be led).
Weekly Plan : Week Starting 25th April
Summary : Bulls -
Bears - JPY, USD
Sheeps - GBP, CHF, EUR, AUD
Rather obscurely this week I have no Bulls. The market I believe is at a precipice as far as trends are concerned. The Euro and AUD are the stronger currencies, but both at peaks and both need some solid news to push them along. I see no good news for the JPY coming anytime soon, just perhaps a lack of bad news.
Be wary of buying near peaks, look for strong confirmation. The Euro and AUD may well osciliate over 50-100 pip rangers between their recent highs and first level support.
CHF and GBP just seem dead ducks. Nothing new bad happening there for either of them but nothing good.
In what may turn out to be a cripple fight, the debt soaked USD will be pitted against the EUR with its PIGS (Portugal, Irelance, Greece and Spain) dragging it back.
What will be the telling factors ?
Lots of USD news out....that what I will be shaping my bids around, consumer confidence on Wednesday and later in the week Unemployment and GDP.
Japan has some directional statements. Overall though, tight stops, take profits and try to stay away from the huge dreamy limits.
I have been looking around for another way to make some money. I'm not confident with the housing market in NSW, shares are all over the place.....so something that has liquidity and continuity. Now gambling is immoral and for idiots right...so I'm going to try the Foreign Exchange Market and document my progress here.
