Thursday, June 25, 2009
Complete Reversal?
Final days of June 2009. A month ago, USD and JPY were plunging down. They were easy pickings for easy profits. You can just buy GBPUSD or GBPJPY just to profit instantly. But this month, not anymore.
It seems that a complete reversal pattern is imminent here. Great Britain Pound, Canadian Dollars and Australian Dollars, the 3 bullish currencies, look like they are taking a big turn. They are showing more days of bearish candlesticks, especially Canadian Dollars.
USD and Japanese Yen are pushing the charts and are breaking their downtrends. The question is whether it is a temporary big retracement and they will continue to drop after that, or it is a true reversal and the two underdogs are finally making a comeback.