Market Direction for 20 - 23 of Dec. 2011

USDollar Index Chart 5hours

Although the USDollar index is swayed downwards based on the technical presentation, it's very obvious it maintained an upward momentum but limited at 80.96.
On the summary, we still remain slightly bearish for USDollar index chart for the next couple of days: we should be seeing the first lower low from this point at 80.50 and gradually deep into 80.40.

Market Direction for 19 - 22nd of Dec 2011

We should be expecting a new low for the USDollar index for 80.40 - 80.20 or lesser within the trading period of 19 - 22. It is also imperative we trade with caution due to emerging economic down turn from the Euro region - untill this is solved by policy makers, market will remain southwards for EURO.

Patience is a major winning strategy in FX trading.

Trading the FX market for most market trader is like a young indian tiger that goes out for hunting first time. If the cob is too fast, the cob will scare its prey away and lose its meal for that day if not the next 2 - 3days. In the process of doing this, the cob will spend a lot of energy during the chase; and for the cob to get its next meal, the cob need to gain back its energy lost from the previous chase. This will be too bad for the cob if it is residing in sub-saharan Africa where the heat is over 60 degree celcius.