Last year was full of very interesting developments in financial markets. Gold reached new high at $1200 per ounce, stunning recovery of US stock market, seemingly never ending growth of Chinese economy etc. For currency traders however, probably most important event of 2009 was continued decline of US Dollar. After resurgence during global financial panic of 2008, when USD showed great gains based on safety perception, currency spent most of last year in decline. It reached 1.5100 level against Euro, 0.9400 against Australian Dollar and fell to 85.00 in relation to Japanese Yen. The Dollar's share of foreign reserves held by global central banks dropped to 61.6 percent during the quarter ended Sept. 30, the lowest on record, from 71 percent a decade ago, the International Monetary Fund reported on Dec. 30. The Euro?s share rose to 27.7 percent, from 17.9 percent. This trend is expected to spill into next year, even if USD seems to be recovering some of the losses, and maybe even beginning to stage a rally on its own. More about US Dollar farther down this page.
For our services 2009 turned out to be the best year ever. Both systems produced over 3800 pips profit during this time. We updated complete results pages, including performance graphs for both Daily Euro and Daily Pound for the year. Please take a moment to study them. Results for the shortened holiday period are posted below. We can only hope that similar results will be achieved in 2010.
Happy New Year!
(Friday 01.01.2010)
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Here are the results for last week:
- Daily Pound made 77 pips ;
- Daily Euro gained 4 pips;
Follow the link on the right to view details.
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Last week's results.
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In our last update, we focused on USD-CAD, looking for an upside breakout. Move came, but didn't have enough momentum in it to reach our objective and fizzled. We took a loss of 60 pips on this trade, but stayed on a lookout for next bullish move. It happened early this week. We were ready for it and made a trade producing 100 pips. More upside action in this pair is expected.
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Trade of the week.
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In 2010 trade we will continue presenting additional trades in the same format, under the "trade of the week" name. They have been profitable and we've been receiving positive feed back on them. We are considering introducing another service in similar fashion, with daily updates, featuring trades chosen on the same principles as these.
Last few weeks of 2009 witnessed USD gaining ground an all other currencies. We think this trend will stay here into the new year. This means we anticipate farther appreciation of US Dollar. As always, we don't want to just get in, but rather wait until market starts moving. We focus on USD-CHF, looking for a BUY when market gets above 1.0525. This is based on daily chart, so it could some time for price to reach our objective of 1.1000. That's right, we are looking for almost 500 pips appreciation.
We wish everybody Happy 2010 and great trading results!
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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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