Friday, December 10, 2010

EUR-USD Technical Analysis - 10 December 2010

Obviously in the long-run the EUR-USD is heading towards down-trend as indicated by MACD and stochastic in the Monthly and Weekly time frame. However in the intermediate and short-term trading the condition is very tricky. This is a position where indecision mind always take place. And of course it's also a place for the big traders to play game with the smaller traders.

Time and again this kind of position proved to be fatal for the smaller and inexperience traders. Understanding that the direction always move following the MACD and Stochastic, but actually this is a place of no decision. Despite of the indicator's direction anything can happen here either the chart will move up or down will be based purely on the crowds decision. If you are unlucky and not able to detect where the crowds are heading to, then you will be at lost or if you are lucky otherwise.

Just never play the game :). Stay put and wait, or else the game will play you.

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