Last week turned out to be rather eventful one. On Tuesday FED cut interest rates once again, to an unprecedented level of 0.0-0.25% as a target. Scores of other initiatives were announced, such as active purchasing of long term Treasury paper in an effort to suppress rates. Dollar slumped significantly on the news, loosing hundreds of pips to Euro, but managed a dramatic turn around before the end of the week. By Friday, Japan also lowered its benchmark to 0.1% from 0.3% and already strong Yen got even stronger.
Our services had very good week with both of them posting very strong gains. See the results below and follow the link for details.
In observance on Christmas, updates to our services will stop on 24th, Christmas Eve. All subscribers will receive details.
We want to take this opportunity and wish everybody fantastic holiday and Merry Christmas!
(Sunday, 12.21.2008)
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Here are the results for last week:
- Daily Pound made 359 pips ;
- Daily Euro gained 345 pips;
Follow the link on the right to view details.
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Last week's results.
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Last week we featured a trade in EUR-JPY. We intended to buy this pair at 122.77 with a target of 130.00. Daily chart was used for this set. This indicated a trade lasting fairly long. Market made fast move and price reached our objective within few days. Gain was 723 pips, very good for such short duration trade.
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With Christmas in a few days, this is going to be a shortened trading week. Outside of the first 2 days, we don't expect very much to happen at all. This is typical at this time of the year. With this in mind, we are choosing a short term set up for our trade of the week. Dollar has gained significant ground lately, a trend which is likely to continue. Our focus is on USD-CAD. We intend to go long at 1.2407, with an objective 1.2550. This is a good size target for hourly charts.
Once again we wish everybody Merry Christmas and 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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