I went long the EURUSD pair last night because my EURUSD neural net model indicated that the trend remained up, even during the credit crisis selloff. This makes sense because everyone is now betting on a rate cut from the US Federal Reserve which should put downward pressure on the dollar. I’m hoping that the EURUSD will pop higher, but that remains to be seen. :)
For a brief moment I thought about going long the USDJPY because I believe its oversold (should be trading at 118) but then again my USDJPY Carry Trade neural net model could be flawed and I just watching and waiting.
Alright, its off to Houston again. I’m still waiting for my Houston readers to buy me a drink but I suspect only one Texan reads this blog and he’s not in Houston. ;)
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