Day Trading & Forex Forum

ewilcox

Noticed on the news last night the dollar weakend again against the pound to stand at 1.93 - and it ain't getting better today. How low do you think this will go and do you think this makes a trading opportunity (i.e. buy dollars expecting dollar to fall in near future to past levels) or a fundamental shift in forex levels for the forseeable future? Any views/thoughts on this subject?

ew

Strategic Trader

99.99% it will hit 2.40/2.50 - but might make it to 2.90/3.00 - but forget trading currencies - much easier ways to make money

TheBramble

Hmmmmm.....don't think so ST....

I'm not surprised you've found easier ways to make money than trading currencies.

Strategic Trader

mmmmmm - currency traders laughed when i said it would hit 2.40 - it was 1.40 at the time! and i have never traded currencies - only way to play that game is front running and easier ways to do even that

Mr. Charts

US $ needs to depreciate about another 25% to make the US current account deficit acceptable.
However, I doubt it will be allowed to go that far as the other implications of such a depreciation are too destabilising.
Richard

__________________
Mr. Charts
Full time US Share Trader

To see just one of the ways I trade for a living:

http://www.trade2win.com/boards/us-s...g-markets.html

and a bit about my background and how I trade in a T2W interview:

http://www.trade2win.com/knowledge/a...hard-joyson/?r

maxpain

The P&F charts usually not only gives a direction but also an estimated bottom/top

Mayfly

There’s one thing you can be totally sure about and that’s that the “old” European economy is being absolutely slaughtered in world markets right now.

This is “process” is working its way down from top to bottom, with the US & Japan ripping the heart out of European high tech industries – if that’s what they are - and the Chinese and others doing the same at the bottom end, while working their way up towards the top?

Anyway, I don’t suppose they’re losing a lot of sleep about these issues in Washington right now.

I’ve attached some longer term charts for added perspective and/or interest?

Sorry, it's too late for me to do the reciprocals tonight.

HTH

Cheers

Mayfly:

Attached Thumbnails

   

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Life is for living, if only for a day.

adrip1

it never ceases to amaze me how people try and predict what will happen in the future. I like the guy who is sure cable will hit 2.4. Mate that is a 1000 pips gain. Anybody who knows 99.99 percent that this gain will happen would a fool not to buy the £. U know why? Because with that amount of certainty, if (i mean when) it gets there u can become a millionaire. There aint many other fields where u can make that kind of money easily.