When it comes to predicting the markets, some will say it’s possible within some aspect, others will say the market is random and others will say it’s random short term but predicable long term.
I follow a several dozen “professional” forex traders and websites like fxstreet, forexfactory, dailyfx and others and one thing I see in nearly every single tweet or on every single website is something like that following.
USD/CAD breaks lowest since January and with the outlook of heading further south as oil prices pick up. Although a rebound at 1.4000 could see an upside of 1.4500
Does anyone else see this as the most ridiculous attempt at pretending you know what you’re talking about? It’s like saying here is this coin, it’s landed on heads 3 times and if it lands on heads, that will make it 4 although if it lands on tails, then it will be 3:1 as a possible rebound for tails.
It’s so stupid EVERY single tweet or forex news article basically gives a 50/50 outcome. Either it will go up or down… well of course because that’s the only options it has…
It just seems nobody really knows what they’re talking about.