A Forex View From Afar

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G7 - Nothing to See or Hear

Written by A Forex View From Afar on Monday, February 11, 2008

The G7 weekend came and passed, with nothing special in the middle. The only important thing discussed at the Finance Ministers Reunion from the most industrialized 7 countries was that sub-prime losses may reach $400bn. That is quite a loss.

The fading G7 meeting was also not observed in the Marketplace; the once notorious Forex Gaps refused to show themselves. Markets refused to see the G7 meeting as anything to concern themselves about, that cue was followed by the financial press, who reserved the last pages for it.

Don’t worry guys, we noted another $300b may be leaving financial institutions on top of the $130bn loss already booked.

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Fundies and Trading
There is a constant question from some traders as to why anybody would ever need to consider the ‘F’ word when trading. Fundamentals: what is so damaging at looking at both Technical charts and having a Fundamental filter to gauge how many Lots to put on? Why is it that accepting that Technicals give us price points to trade, but Fundamentals determine the direction that we travel is so difficult for some traders to accept? Without a Fundamental Filter very few pure Technical traders would have seen this Dollar move coming today.

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