Today, on May 20th, Forex started a new trading week. There have been no radical changes in the market of EURUSD so far. The previous bearish move was elongated by some 200 points. The price keeps developing the ABC pattern of wave level Daily. The move hasn’t reached any of the given targets so far.
It seems like more and more experts feel bearish on the near-term prospects of the common European currency. Some of them say that EURUSD may even drop down to 1,15 in late 2013. If this is the case, this will be the lowest level in 10 years.
Yesterday, on May 15th 2013, Eurostat published a eurozone GDP report, which reflects the economic dynamics in al the 17 countries. The figures turned out to be much worse than expected. In Q1 2013, the aggregate GDP dropped by 0,2% as compared to the previous quarter. At the same time, tere was a 1% decline year-over-year.
Masterforex-V: Documentary on Forex – What Don’t We Know?
These days, few people do not know about Forex. Most people know that this is a currency market that gives everyone an opportunity to make money by trading currency pairs. Unfortunately, there are many people that treat Forex as some kind of a scam or bingo play… or they are sure that it is impossible to trade Forex profitably. Indeed, most traders do lose in the long run, but this is how it works. This holds true for any market.
This is a rather controversial issue that needs comprehensive analysis.