My Trading is based on the laws of supply and demand. Everything about price is reflected in the price. Price moves between areas of supply and demand until the demand is absorbed and price moves lower or supply is absorbed and price moves higher. This blog is dedicated to the relationship of supply and demand and it's effects on price in the forex markets. Once supply and demand is learned, it can be used in any market.
12-24-06
USDCHF
There was a short trade from Thursday that reached the 1.2117 target on Friday for anyone who was still in the trade. The US Dollar caught the bounce at 85.33 for the second time and the USDCHF reversed to a high up near the area of supply 1.2220. The USDCHF settled near 1.2180. I expect the range for the early part of the week to be 1.2145 up to 1.2220.
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Forex Trading Based on Supply and Demand
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9:21 AM
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