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EUR/USD Forecast 7 Nov 12

 

Good day forex traders.

 

The US elections is over and the result is out. Were you trading when all that was happening? If so, you are one brave koala ! 😛 Such major political event often result in volatile price actions that are risky to margin traders like us.

 

EURUSD Forecast

Solution : ProRealTime

 

Looking at the EUR/USD 4 hourly chart above we note a bearish decline. The bullish spike was probably due to the election result. Many forex koalas who bought the bull told me that they lost money when it swing back down again.

I am always sadden to hear a loss of money as it is hard to come by. Dear readers do take note that such major events usually produce price action that may change at a moment’s notice. It is important to remember that you must trade forex only with a good knowledge of upcoming events. Failing to do so is like driving in a fog without your fog lamps on! EXTREMELY RISKY.

The bearish swing down is probably caused by the negative sentiments flowing out from the Euro Zone. Comments were made that the budget deficit crisis has creeped into Germany’s economy and hence the entire Euro Zone is facing a cut in growth forecast. Germany is often seen as a beacon of home for the European nations and now the ECB president was reported saying that the difficulties related to debt are starting to affect the country.

Equities in Europe are mostly red.

 

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