In response to Headline: Dollar Slide

This was the headline from well-known news media. Traders, you have to be careful when you read headlines like this. Don't jump into the conclusion that the news is 100% correct.

Look at the chart for yourself.

The candlestick circled in yellow is the European market opening candle. It is a 33pips retracement(a big word to describe market pullback from a previous, more significant move).

When there is no mention of the Dollar rally on previous days, you can read the news media's bias.

The next question the people have is, "Is Fundamental Analysis more important or Technical Analysis more important?"

It is like asking if water is more important or air is more important...

Both are essential to a Trader who wants to go Pro.

One thing I could say, the chart tells you what market participants are looking for and what they have "voted for". Through their action, you will either see the market going higher or lower.

Market Participants - Financial Institutions like Bankers, Hedge Funds, Private Hedge Funds, Family Funds, Investors, Traders, Importers and Exporters, etc... Not forgetting Governments who holds the trump card of intervene the FX Market, which has seen "NOT EFFECTIVE" for the past decade.

So next time you read a news headline, don't jump to a conclusion. Do some research, do your analysis or ask experts with relevant experience you trust.

Comment:

news source from: www.reuters.com/mark...ts-30000-2023-04-11/