The promise by fed to Intervene by adding stimulus may just be a hoax after all. Since they can say what they want, but do they actually have the funds to do so? Don't forget they still have to 'find' 12 trillion by 2013 after all.
Traditionally, September is the worst month of the trading year; with gains not as high as other months and loses more than other months.
After the short rally induced by covering of short selling, where is the market headed next few days?
Well, it turns out that 5 of september is a holiday, which means there is a long weekend for the americans. After a long weekend, markets usually rally.
This is coupled with the fact that it is the 3rd candle after 2 down days, so there's a high probability that it might reverse.
Important news releases for 6th Semtember:
Services PMI
Well, I don't know whether the Services PMI is going to be better than expected or not, but we can play on probability.
Notice that the last 2 times, the forecast was wrong... The actual can't be worse than the forecast all the time. Normally after 2 times of being wrong, the next one will come out as being better than forecast.
refer to www.forexfactory.com
Market for 6- September:
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