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Welcome back to our weekly commentary section! What is happening to Australian Dollar? Has anybody noticed it made yet another all time high, or, perhaps, is this so common nobody pays attention any more? Just another day in the office for AUD. On Friday it went as high as 0.9565 on some platforms. Not too far from parity. O.K., we know, it is not exactly ALL TIME high, but it has been over 25 years ago since we have seen these levels. Early 1980's was the last time prices were comparable to today's. We will be looking for reversal patterns and signals for AUD-USD, concentrating on 4H charts.
Our mechanical trading systems were mixed last week. "Daily Euro" service had a very good week, gaining 184 pips. "Daily Pound" on the other hand, lost 39 pips. Please follow the link below to see details. Also, our complete results pages have been updated, including performance graphs.
Over the years we had a lot of requests to make the systems available for sale. We are finally agreeing to do it. Sometimes during next 2 months we will offer a modified version of our signals to general public. System will be priced moderately and we will even offer a money back guarantee! So, if you are in the market for easy, mechanical trading system, stay tuned.
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Here are the results for last week:
- Daily Pound lost 39 pips ;
- Daily Euro made 184 pips;
Follow the link on the right to view details.
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Last week's results.
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Our trade from last week was USD-JPY. We intended to go long at 103.43 with a target 104.05. As we can see, once the trade was triggered it came to a speedy conclusion. Nice 62 pips gain.
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Trade of the week.
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For this week we are taking a look at another of Yen crosses. This time it is CAD-JPY. Once again we are looking to long here. Our entry point is 105.65 with a target of 106.70 or about 100 pips. Please note we are using intermediate time frame here, so the trade can take some time.
We wish everybody a 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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