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Currency Forex System Trading - What Will The Dollar Do In 2008?
By admin | March 2, 2008
As traders we all want to know the direction of the currency we like to trade. True, nobody has a magic wand or crystal ball but there are tell tale signs of where a certain currency is headed. I love trading period and currency is as open and profitable an area in the investment world as you are going to find. 2008 will be no exception and the dollar will continue to spin downward but a rebound is in store. The U.S. currency will slowly come back around in time. read on:
Here we are toward the end of 2007 and how much lower the dollar goes is anybodys guess. Just last night, I heard a particular well known personality on the investment channel (the same channel with the booyah man on it) predict that the EU and Paulson will intervene in the market soon to defend the dollar against shorts (the favorite whipping boys). In my opinion this would be a terrible play. Let me explain: As soon the treasury intervenes the sooner the real panic in the U.S. dollar starts. The current administration has to be applauded for the fact that they did not go down the failed course of currency (forex system trading) intervention against good fundamental reasons for the dollars decline. If they try to stop the fall in that way everyone will know they got nothing real to do. I predict it will result in a panic dollar dump within 30 days of their first intervention.
Many are profiting on the decline of the dollar. They are doing so by shorting the dollar or by holding lots of foreign currency and gold; but that is the late 2007 situation. You are here to find out where it goes in 2008.
The dollar will slowly rebound in 2008. A very slow and incremental growth rate will occur and the move will accelerate in the late Summer of 2008. What will bring on this turnabout? Well, this article would turn into a dissertation if I was going to go through all the reasons but let me say this: This Administration will deal with the problems that need fixing and stop reacting to the results of their own mismanagement.
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Howard Teel is an experienced Trading Manager that has been involved in the markets for many years. He has been the President of two online trading firms.
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