Recovery? Slow but surely.

Hello All~
Hope you guys had a good trading day. My trading day wasn't that bad . 7 Trades were done. 6 Positive 1 Negative. Bloody good rather. Today the markets ain't that bad. It was bound to recover from the drastic drops that Bears have been dropping 2 days ago till yesterday. Markets are marching into a little bit of recovery but Huge drops like yesterday makes Newer investors that have yet to be established with these kinds of drops thus making fearful of entering the market again after their positions all negative. In Forex markets overnight, there were some drastic movements but half of what happened the previous close. The Australian central Bank slashed it's interest rates by 100 BPS (1%) from 7% to 6% rather than to 6.5% which was markets were hoping for. Upon news it dropped 200Points down but after that. Markets believed it was a good move to help recover the financial crisis that was happening all around the world. It rallied 350 Points UP after. It shows that other central banks around the world are also going to have rate cuts soon to cope with the financial turmoil.
European union pres: Trichet is asking for help to aid with Europe's Financial turmoil. So it might be volatile in rally wise if anything happens.
Till than Good Trading all~

Anil

Dreadfull day for Markets

Markets all over the world are RED, plunging to levels that have been yet to be seen in years that have passed. What tiggered it? First of all it was the bailout plan. Thou approved, investors are still worried that the worst is not over and along with that came Germany's 2nd Largest Mortage lender needed a bailout of 60Bln. Australia's bank Suncorp has reports of it being approached thus rising fears that Australia might have Banking financial crisis as well. Everything thing that has been going on has killed other investor and me as well. At these times, it is wise to study the market properly and LOOK at support levels those are rather crucial.
These are drops noted today.
AUD/USD = Drop of 700 Points
USD/JPY = Drop of 500 Points
GBP/jPY = drop of 1000 Points ( holy)
EUR/JPY = Drop of 800 Points

Markets that really substained with little drops were EUR/USD of 165, GBP/USd of 250.
Wonder why is that? we'll see later. I expect drops on these 2 Majors later when the crushing of the other 4 pairs are over.

trade Safe. (for now i'm shorting Eur/USd, hope this one works XD)

Anil