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At the end of the day one has to laugh! Always expect the unexpected in Forex! Both USA "high impact" results were in favour of dollar appreciation. First the PPI, followed one and-a-half hours later by the UoM. It was after the latter result that the market reacted definitively. GBPUSD produced its high of the day. USDJPY hitting its low of the day. Both currency pairs moved in opposition to what economic principles would expect.
I feel sorry for the beginner because this will be hell. The beginner will have to quickly unlearn what was imbibed and realise that this is a fight for survival. In my view it is better to approach Forex as an investment and therefore look for longer time frames in which to make profit. Try to attain an overall picture of where the market is going and project at least a fortnightly procedure. Day trading is too frenetic and unpredictable to justify serious study.
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