Thursday, November 6, 2008

On The Sidelines in FOREX Market

Just wanted to post this chart of the EUR/USD. Over the last 5 days alone we have seen huge swings just this currency. While this does present the opportunity to make money on each little move, I like to make money on the big moves. Granted there are great opportunities to go long and/or short after spikes, but I want to wait until the full pricing of the interest rate cuts set it later tonight. I personally think the dollar will get stronger in the short term to test its highs and then roll over. When it finally shows the signs, I'll be ready to take advantage.