Monday, September 7, 2009

Next trading week even you could be Right On The Money..

OK, I'm going to make this short and sweet! Especially after when you know that I was not going to post anything at all today since it's labor day, but I can't help sharing this hopefully major opportunity on the horizon next trading week. It's pretty clear. Forex markets around the world already open, however I'm banking on a major pull back in the stock market on Wall Street! September is notorious for being slow and I expect the DJIA to drop at least a few hundred, which automatically impacts the pair in the spotlight in this 'Right on the Money' episode. You guessed it right, the EUR/USD. I found an amazing article on FX360 which only amplifies and confirms this potential trade.

Already the pair is in my opinion severely overbought. A price of 1.43 is nuts and it's only a matter of time to see it collapse. That time may have come sooner then I first anticipated. In fact it may happen this week, if not this month. Whatever the situation is, shorting this pair is not a dumb idea. As always we'll see what happens.

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