Another day for the Greenback, against the Sterling and Euro, the Sterling drop about 150 pips today against the dollar hitting, 1.5419 around 5:00 P.M., most professionals consider that time, Tuesday but for the blog it's still Monday, 3rd... The Euro took a major hit, breaking down to 1.3162, for 220+ pip loss today against the Greenback. Yes I had the Euro, took a loss of 50 pips today, to much again.
Greenback is very strong the last month and seems to be getting stronger...breaking 1.5500 against the Sterling was big..... We have alot of news this week for the Sterling and Greenback. Looking at the Dow, the price of gas at the pump, which is dropping, (sounds good but it isn't) the Double Dip, is developing...... So take Greenback profits when available, but I wouldn't sit in, med-term or long-term trades.......
I'll be on the sidelines most of this week waiting for Friday.... Fed is speaking in the morning, volume should rise, for scalping trades, Sterling rate decision is also this week, this may produce high volume.
I maybe alittle early with this information, but better to be early than know to late, The Real-Deal is this, Sterling breaking below 1.5000!! and holds, I have been tracking Sterling almost 8 years daily, if that happens, MAJOR BEAR, Sterling, Euro, Dow, all will fall just like 2007-2008... The Greenback will be a safe-haven... If it's like 2007-2008 and you follow the bear trend, Greenback bullish against the Sterling and Euro, you will make alot of Money!(during a major recession)....www.createspace.com/3597011
As I'm writing this blog, Sterlings at: 1.5430-- so we will track...
Thank you for your time and have a great day....
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