Keep your ears and eyes open.

Yesterday, I heard in the news that the Bank of Montreal made a financial prediction about the value of the canadian dollar versus the US dollar. The bank predicted that the canadian dollar will be worth the exact same value as the US dollar before the month of september 2007 is over.

At the beginning of 2007, the US dollar was worth around $1.18 CAD. It then started to slip regularly to finally close this week just under 1.10$ CAD. Already close to a -8% slip this far for 2007. I made most of my first FOREX gains on that regular tumble.

Now with that announcement it really looks like there is still another -9% USD depreciation to come until the summer is over. That means another 900 points fall to come. A pretty interesting long-term information for a FOREX trader.

As soon as the market will open tomorrow, I will open a big short position and hold it for a few weeks...or until it stops dropping on a daily basis. Sometimes during a fall in a currecy value, there is some resistance plateaus, a good opportunity to close a short position. On such resistance, the value stops it's drop and starts going back up again just a bit. If you are aware of such resistances you can close your positions, wait for the small raise and open another short position to fully benefit the small raise.

If you are successful, you can easily exploit such a 900 point long-term drop and register an even better performance. Exploiting the resistances can transform a 900 point market drop into a 1000 point net gain for example, just by closing your position and opening another one a bit later after the small temporary market raise.

Open your ears and your eyes, all the info you need to be successful is out there to be exploited.

P.S. If you are not familiar with FOREX trading be very cautious because every trade is potentially dangerous.