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For about a year now we have been living with the aftermath of the "housing market bubble" or "the credit crunch". This particular crisis culminated not that long ago with near demise of Bear Sterns. The troubles are far from over, as more financial institutions predict steep loan losses for another 1-2 years to come. Of particular note to a Forex trader is the fact, that this calamity gave one more reason to dump the dollar, proving how sick US economy is.
A big cry was raised by popular media, how FED should step in and help save the markets by cutting rates. And guess what? They did it! Time after time, giving an impression that FED is in the employ of Wall Street, bailing out people and companies from their greed induced holes. Over last few weeks following headlines have been seen on front pages of important newspapers: " Oil up on another dollar slump", "Dollar weakness causes yet another oil jump". And many similar ones. Slowly but surely general public makes a connection between the two. Soon enough there will be a prevailing belief that stronger dollar should bring oil prices down. Can FED do anything about it? Over next few weeks we expect to see more and more talk about an all out INTERVENTION. Our fiscal authorities, being so helpful in one crisis, surely would accommodate our wishes in another. Or maybe not. We will follow this train of thought over next few weeks.
Intervention or not, trading, especially mechanical trading, goes on. Our services both registered positive results. "Daily Euro" is especially productive lately, above its "typical" returns. See the results below, and follow the link to see details.
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Here are the results for last week:
- Daily Pound made 36 pips ;
- Daily Euro gained 212 pips;
Follow the link on the right to view details.
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Last week's results.
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Here is our trade from last week. As a reminder, we intended to buy CAD-JPY at 105.65, with a target of 106.70. Trade turned out to be less than remarkable. Order was filled after which market went through wild ride. We didn't like the behavior and closed the trade at break even.
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Trade of the week.
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For this next week are focus goes to NZD-USD. New Zealand dollar has experienced a few strong days and it looks a little overdone to us. Using intermediate term charts we are placing a sell order. Our entry level is 0.7810, with a target of 0.7700.
We wish everybody 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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