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Many Forex traders, from those fresh off the block, to those who have been around for years, often forget that to survive over the long haul, common sense is a "must." However, when we're in the trees, we often find ourselves unable to see the forest. With a common sense approach, traders of all levels will find the "true paradigm" of profitable Forex at their fingertips. Using a common sense approach, traders will learn to spot future trends, often, before they ever even appear.

Who is Black Knight?

Pipscalibur Author

Known as the "Black Knight" in trading circles, Andrei Pehar is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He's also founder and Sr. Currency Strategist at fxKnight.com.

His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is the author of "Trading Forex for Living", published by Harriman House

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March 2009

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New Lows for the Dow- Where is the Bottom?

Posted 08:04 09 March 2009 | 3

The Dow Jones Industrial Average has taken another beating the past two months, dragged down primarily by some of its component companies, including: General Motors, Bank of America, Citigroup, and JP Morgan Chase.

This non-stop slide is part of the reason for the US Dollar’s new-found strength, as the sell-off in assets created by market uncertainty and also funds’ need to fulfill redemptions creates a big demand for cash.  And currencies respond to supply and demand just like any other commodity.

So where is the US market likely to find bottom?

The next key support level is waiting at 6556.  What happens when we get there will be critical.  If this support level holds, we could potentially see a bounce back up to 7030.  If not (and if it instead re-tests as resistance), then the coming weeks could take us down as far as 5788.

Comments (3)

Hello, While i'm trading i'm watching usd index and Dow. I draw Fib for both from highest and lowest point Usd index now @38.20 and DOW@61.80=6521 My question: what will be the effect for us$ and us economy if DOW reach 1700 that 1987 low?, Will usd at this time keep going high?
Babysteps | Posted 16:50 09 March 2009
It depends on how FAST we drop. Typically, a country's currency's tends to follow it's economy & markets, but if things sell off too fast, it creates a short-term demand for cash as assets are sold off. But let's take it a step at a time, if 6556 breaks as support, then let's see what the markets look like when we get to 5788.
BlackKnight | Posted 17:07 09 March 2009
Hi, why here - http://www.babypips.com/blogs/common_sense_is_king/why_is_the_yen_sinking_you_mig.html - block About - the same what is here. If it's bug - I'm happy to help u to destroy it.
evra | Posted 12:54 12 March 2009

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