Monday, October 6, 2008

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

1 comment:

Anonymous said...

This is very scary....=_=