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| Hello again!
Thank you for visiting our website. What a week in dollar trading. Taking EUR-USD as a proxy, we have seen some large moves. On Tuesday FED chief Bernanke admitted that inflation has become a problem and even linked dollar weakness as a contributing factor. This has been a first time in very, very long stretch, that our central bank has said anything about miserable condition of USD. While there was no mention about any steps to strengthen US currency, markets responded swiftly and EUR-USD fell about 200 pips to 1.5400. On Thursday European Central Bank decided to leave interest rates in tact. Once again, there was a strong reaction, only this time the other way around. market rallied 200 pips, getting right back to 1.5600. This move continued on Friday, with massive jump in oil prices, plunging stocks and scores of other news.
Recent price action underscores lack of market direction and indecision on part of participants. In our view this pattern will continue for next few weeks, with a great deal volatility and very little consistency.
Al this jumping around is good for at least one thing: our "Daily Euro" service. System has once again shown positive results . We are very pleased with the performance. Results are listed below, link on the right will take you to details.
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Here are the results for last week:
- Daily Pound made 42 pips ;
- Daily Euro gained 103 pips;
Follow the link on the right to view details.
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Last week's results.
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This here is a trade from 2 weeks ago. This trade was a little slow in coming. We were selling NZD-USD, with an entry at 0.7810. We had a target of 0.7700, a decent one for this pair. Trade was executed, then bounced around for a few days. Finally, price met our objective and we netted 110 pips.
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Here is our trade from last week. Our intention was to buy GBP-CHF at 2.0800. This trade didn't happen. Price moved sharply in the opposite direction, never reaching our entry point. Now that we are 700 pips away from our original buy, we are cancelling the order.
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Trade of the week.
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We are taking a closer look at EUR-JPY. This pair has experienced a large run up lately. After the massive strength EUR showed over last couple of days, we expect some sell off. Our potential trade has relatively small target. We placed a sell order at 165.19 with a target of 164.50. Please notice we are using short term charts, so if the trade is initiated, we think it'll come to a fast conclusion.
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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