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Very interesting trading environment we have had lately. There are a lot of currency pairs that seem to be locked in a relatively wide trading ranges. That has been the case for a few weeks now. Most of USD pairs don't seem to be going anywhere. That includes EUR-USD, USD-CHF, USD-JPY and others.
If that was not enough, the same can be said about most of the active non USD crosses. Just one look at GBP-CHF, AUD-NZD, EUR-GBP or CHF-JPY reveals how indecisive have the markets become. One of the few exceptions seems to be CAD, which seems to have just entered a period of visible weakness.
What's next? Well, nobody really knows, but, in our opinion, there will be a reversal of previous trends once the current period of consolidation is over. That means USD should get stronger.
Our mechanical systems had a quiet week. Please see the results before and follow the link to view details.
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Here are the results for last week:
- Rainbow - CLOSED TO NEW SUBSCRIBERS;
- Daily Pound lost 9 pips ;
- Daily Euro dropped 49 pips;
Follow the link on the right to view details.
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Last week's results.
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Last week we featured a potential trade in EUR-USD. We are looking for a breakout to the downside form a large sideways moves. Our sell order is placed at 1.4295 with a target of 1.3500. So far price has not reached our entry. Our order is still walid and remains active.
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Trade of the week.
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For this week we are taking a look at NZD-USD. It has been a long time since we gave any mention to this pair. There has not been a lot of movement here lately, but we think it's about to change. We have a sell order at 0.7770 with a target of 0.7600. We are using daily chart for this set up, so fast conclusion is very unlikely here.
We wish everybody great trading week!
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Once again we must stress that the trades highlighted here are only a small sample of our trades. If you have any comments or would like to obtain more information please contact us at info@spectrumforex.com .
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Risk disclaimer:
Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.
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