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| Happy Easter!
From all of us here, at Spectrum Forex LLC, we want to wish everybody Happy Easter!
Holiday made for a somewhat shorter trading week, as not much happened on Friday. Chances are, there will not be much activity after open on Sunday and Monday. Some break is needed, so we suggest to take advantage of this slow period and enjoy some time away from computer.
Friday aside, week was full big announcements and large moves. First, Sunday night local time, FED made a news release about Bear Sterns bailout. This highly unusual move was net with a strong response from Forex markets. USD sank to new lows against EUR and CHF in most violent move we have seen in years.
That said, we want remind everybody what we posted last week :
"We are going out on a limb, and are calling for a bottom in USD sometimes over next few days."
We think that last Monday we saw a blow out move, indicating end of a bearish trend in USD. When couple days later FED cut rates by additional 3/4%, USD got stronger. We are sure, that came a surprise to a lot of people.
Our services had decent week, with both systems registering gains. Please see the results below and follow the link for details.
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Here are the results for last week:
- Daily Pound made 135 pips ;
- Daily Euro gained 53 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 were talking about USD-JPY. We wanted to BUY at 101.30.
After markets opened on Sunday, there was an accelerated sell off which we perceived as an exhaustion move, if only for a time. We bought at 96.23 held it for the rest of the week. Exit was at 99.54 or +331 pips.
We still have another BUY order. Entry is intended to be at 101.35 with a target of 107.00, large target.
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Trade of the week.
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We are taking a closer look at GBP-CHF. Our interest is in a long position here. We have had some failed trades here over last couple of months.
We already established a trade on Friday. Our entry was 2.0011 and our target is 2.0700, or almost 700 pips.
Once again we wish everybody Happy Easter and great trading!
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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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