Rumors Rumors and more Rumors…

Hi friends,

Today’s morning we got a surprising push up on the major pairs, which continued even during rest of European session.

The move happened thanks to rumors about the European banks to intervene, and about Bernanke to come with the expected QE3.

As for these days, the market acts bullish ONLY because of rumors. If there will be no action, how long the traders will believe the rumors? Probably not much longer. That’s why I think that the next strong bearish wave is about to come.

And here is my daily potential trade to watch:

As you can see on the daily chart, we still have place to go to the 20 MA at least. Here is 4H chart:

We have bullish convergence, which means that every push down is an opportunity to take buy signals with the target at the daily chart.

Have an amazing day

Vladimir Ribakov