The next mortgage collapse and equities meltdown are about to start worldwide despite talk of global economic recovery. Financial and government elites are already fearful. Market falls on news of the Dubai crisis were sharpest in Japan; Japanese shares plummeted 3.2 percent - the market's largest on day decline in 8 months. The ignition to start the next turmoil in the financial sector has been led by Dubai news and the spiral received a green light. A yearly lower low in Dow Jones would be seen in the first of 2010.
$Majors: If it wasn't Dubai Crisis, Euro would have been 15300!
Point Of No Return: It has been the start for upcoming unprecedented weeks where currencies would not be deprived form screening levels not seen in years. USDJPY, EURUSD, USDCHF, USDCAD, & AUDUSD all are ready to focus on Dollar Weakness targeting 80, 1.6+, .90, .92, & 1.5 respectively. This global chart is valid as long as Gold stays above 1050 on a monthly basis.
EURUSD and every single financial instrument have lost their waves severely upon the fearing newswire that Dubaiwould be delaying by at least six months the maturity date of $59 billion in bonds issued. The euro downtrend was arrested at the weekly trendline reading 14825 and since then the market faced a rebound.
How to trade the next euro wave is really in a weird astounding dilemma, and since there is a light belief that history repeats itself, let us take another repetitive measure that fits the previous week euro closing. If the market price reprocesses a daily close above 15012, the euro would encounter the 153+, and any close back below 14930 should be set as an exodus for the trade.
USDJPY Free Trade
USDJPY Free Trade of 55pips
27Nov Spot Trade
Trading a valley
Trade Entry Validation:
27Nov - 27Oct
Trade duration once filled:
min 1 Hr, max 09days
Short Weekly Close & target 55pips
Enjoy Yen Trade