How quickly time passed! I know that I haven’t being able to update my blog very often but that doesn’t mean I’m not trading. This month has been one of my most challenging month so far. Lots of ups and downs. I chalked a few hundreds pips and lost them the other day. Trading has been so risky nowadays because of the economic woes, especially the Greek crisis.
The bearish channel that we saw on April actually doesn’t reflect the US economy. Simply, it doesn’t mean that the US economy is at its peak, or better than the Euro. It’s all the effect from the Greek economic crisis that has weakened the Euro altogether, thus surrendering the highest price at 1.36909 and went down till 1.31170.
I’m looking forward for a more bullish position now because I believe the USD has lost it momentum for a while. One of the crucial line is the 1,3200. If the price managed to hold at this level, we’ll soon see a new low at the psycho level, 1.3000. But for the time being, I sense a bullish momentum targeting the 1.34000 level.
Keep your finger cross. And trade wisely.
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