Where prices will go next is irrelevant when trading price bar formation. You trade what you see on the charts (that's the rule) - and not what you or others' think. That's why we don't bother guessing where prices will possibly be in 6 months from now.
But consider this...
The USD, CAD & Mexican Peso will disappear from the face of the earth, and will be replaced by a new currency, called the 'AMERO'. This could happen pretty soon, potentially before the end of Obama's term. And he's got less the 12 months left. When looking at the DJIA long/term charts, chances are that this may be the beginning of a massive and extended down-turn - below 10,000 - over the next 12 to 24 months. This would extremely weaken the USD - a perfect opportunity to make the $$ disappear for good.
And a new game shall begin... EUR/AMERO/YEN/CNY
The EUR still has a couple of open GAPs at around 1.2000
Yesterday the made a massive rally of 321 pips and closed near the high of the day although shy below the 50-day moving average after the European Central Bank disappointing high market expectations for greater stimulus.
Today we will have the non-farm payrolls and unemployment rate in the US, also being another market mover.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (Support) and 1.0819 (support).
Champions for independence and our own currency tied with Wensleydale Cheese exchange rate
Micro Breweries galore.
Hills, Dales and rugged country to walk, climb & explore. Tourist Info courtesy of Yorkshire Airways (Hale & Pace). Departing Leeds Airport - Arriving Leeds Airport (Cos if it ain't in Yorkshire then it's not worth visiting)
Where you from ? - give us the grand tour Snapdragon
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