Forex books!
We have wide selection of Forex
trading books, training courses,
trading systems and software!
www.forexe-books.com
| Welcome back!
We have seen some strong moves over last few days, but together, from the perspective of the entire week, markets seem to be very indecisive. Let's take EUR-USD for example. Sharp sell off early on, only to recover about 200 pips over last two days.
Japanese Yen, on the other hand, appears to be getting stronger. JPY registered some significant gains across the board, even took GBP back under 200 level, if only briefly.
With almost all currencies showing historically high volatility, behavior of CAD is a little puzzling. Canadian Dollar was a high flyer last year, but so far in 2008 doesn't play any role at all. For last few months CAD has been virtually locked with USD around parity, with occasional short moves of 100-150 pips either way. We think this will come to an end over next 1-2 months, with a new, longer move. We are USD biased.
Our services had relatively quiet week. See the results below and follow the link for details.
|
Subscribe
Services
Forex Data
Forex Bookstore
|
Here are the results for last week:
- Daily Pound made 49 pips ;
- Daily Euro gained 9 pips;
Follow the link on the right to view details.
|
Last week's results.
|
Here is our trade from last week. Our set up was to go long GBP-JPY at 209.15. As we can see the market moved sharply in the opposite direction and our trade remained dormant. We will look for other long entry if situation warrants it. For right now this trade is cancelled.
|
Trade of the week.
| 
|
This time around we are taking a look at USD-JPY. The Yen had good size run against all other currencies. it looks like there is time and room for some correction. We placed a buy order for USD-JPY at 103.43. Our target is 104.05. We are using a small time frame chart, 1 hour, so if order is executed, trade should come a speedy conclusion.
We wish everybody a great trading week!
|
|
|
|
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 .
|
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.
|
|
