Reversal effect

2 days back, it was it’s all time high, breaking 1.6000 points. Today, it’s 300 pips down to 1.5700. From the look of it, it could be corrective measure doing it’s work. There wasn’t any real news when EUR/USD hits 1.6000.

I could be wrong, but it could go down further. But let’s wait a while more to be really sure. Besides, USD isn’t at it’s strongest lately. Let’s see - if it goes as what i planned, then it’s good. Else, i may have to get some Botox for migraines or worst, suffer the losses.

April 24, 2008 | Filed Under General