The beginning of the week has been full of important news out of both Europe and China. Whether it’s the impromptu meetings in Europe or the increased lending from China, market reaction has been swift and very clear.
In the chart below, you’ll see this has lead to a 200 PIP rally in currencies like the AUD, but will it last? If the trend ends, there could potentially be $1,800 worth of short-term profit in less than a week.
Is this the new direction of the market or is this just a knee-jerk reaction to some short-term positive international news? The Forex market moves in waves — after a large move comes a retracement and then another large move. In the first two days of the week, we have seen the retracement. When will we see the next large move?
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