Not too many strictly Forex news of any importance over last few days. Nevertheless, other financial news carry weight. One of them was the so called stress test on 19 largest US banks to check whether they could hold up if the economy deteriorated further. The banks were ordered to not to disclose the results in public, for fears of panic in financial markets. Many economists doubt soundness of this test. It has been pointed out that "the worst case scenario" used for measuring banks' strength is already here, or almost, and is not representative of future deterioration. For example, one of the question banks were supposed to answer was " how will this bank do if unemployment rises to 8.4% in 2009?" Unfortunately, unemployment is already at 8.5%, so at least this part of the test was out of touch with reality. Administration officials said their intention was simply to make sure that the nation?s big banks would remain adequately capitalized even if the economic recession is substantially worse than expected. Results are unclear if the banks will need farther infusion of funds, amounting to, more less, nationalization.
Our systems had a weak period, not unusual following prolonged time of above average performance. Details are posted below. We updated full results pages, including performance graphs and you can see them by following link below.
(Sunday 04.19.09)
|
|
|
Here are the results for last week:
- Daily Pound made 3 pips ;
- Daily Euro lost 151 pips;
Follow the link on the right to view details.
|
Last week's results.
|
Trade from last week was a sell in NZD-USD. We were looking to go short at 0.5680 with an objective of 0.5560. Order was executed and we are in this trade. It is currently at about break even.
|
After weeks of loosing ground Yen seems to be at crossroads, if temporary. Last few days we saw strengthening of JPY across the board. While we don't think it is a long term trend change, we are of the opinion that this will continue for some time. Few days, a week maybe.
We decided to try a sell of USD-JPY. Our intended entry is at 98.65. We are not looking for any prolonged move, but rather a shorter, faster swing. Target is 98.00, only 65 pips.
We wish everybody a great trading week!.
|
|
|
|
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 .
|
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.
|
|
