Monday, April 17, 2006
The First Prediction
I started watching EUR/USD movement yesterday and it made a jump of over 100 pips.
Some people must have made a huge sum of profit, and likewise, some must have lost tonnes. I've not made any technical analysis on where the pair is heading. But the MACD indicator is telling us to sell, thus tomorrow I bet the pair is going to move south.
Let's come back to this in 24 hours and see if my first money-free bet works out.
-Update-
Ooops, I couldn't wait 24 hours to see how my prediction turns out. Especially after reading that USD is weak and continues to slide down. EUR/USD moved up and broke the previous resistance of 1.2301 and it is currently pulling back for a breather. I've calculated the entry point to be 1.2272 and target it to reach 1.2348 for a 77-pip gain. With a bit of waiting, it might even go up to 1.2396 for a 125-pip profit.
I'll have to set my stop loss at the 61.8% retracement level at 1.2253 and risk 18 pips. I could do all this if I have a trading account. Since I don't, let's see how it would turn out. 18 pip lost or 77 pip gain? We'll find out soon.
Some people must have made a huge sum of profit, and likewise, some must have lost tonnes. I've not made any technical analysis on where the pair is heading. But the MACD indicator is telling us to sell, thus tomorrow I bet the pair is going to move south.
Let's come back to this in 24 hours and see if my first money-free bet works out.
-Update-
Ooops, I couldn't wait 24 hours to see how my prediction turns out. Especially after reading that USD is weak and continues to slide down. EUR/USD moved up and broke the previous resistance of 1.2301 and it is currently pulling back for a breather. I've calculated the entry point to be 1.2272 and target it to reach 1.2348 for a 77-pip gain. With a bit of waiting, it might even go up to 1.2396 for a 125-pip profit.
I'll have to set my stop loss at the 61.8% retracement level at 1.2253 and risk 18 pips. I could do all this if I have a trading account. Since I don't, let's see how it would turn out. 18 pip lost or 77 pip gain? We'll find out soon.
# posted by Camus @ 8:44 PM 