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Thank you for visiting our pages. We have just witnessed another week of very, very confusing price behavior in currencies. Let's take EUR-USD as an example. Week started on a sharp sell off, some platforms gapped down, with a low below 1.5650. Then EUR rallied for most of the week, making a new high and almost touching 1.6000. Friday saw a price collapse with a very sharp rebound over last few hours of trading. For all practical purposes, prices finished this week unchanged from Friday before.
Clearly prices are at crossroads and what happens next is a matter of bitter speculation. We maintain our position that some USD appreciation is around the corner, and this is direction of our trades. For more of that scroll down this page.
Our services registered a good week. Both systems had nice gains.
We updated our complete results pages, including performance graphs so make sure to visit them by following the link below.
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Here are the results for last week:
- Daily Pound made 122 pips ;
- Daily Euro gained 133 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 taking a look at USD-CHF. We went long at a close Friday week ago. Entry price was 1.0017. Our initial target was 1.0250. We closed partial position at 1.0242 or +225 pips. We keep the balance with a target of about 1.0450.
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Trade of the week.
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For the foreseeable future we will be biased toward trading with, not against USD. Here we are taking a look at USD-CAD. Canadian dollar for most part has a life on its own, doesn't necessarily line up with other currencies. We are looking for some weakness here. We have a buy order at 1.0155 with a target of 1.0250, or about 100 pips.
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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