It was a very quiet week. Our systems did not have any large swings in performance, neither gains nor losses. Just as well. After almost a month of losses a week like this is welcome.
We believe that there is going to be a change in market behavior. After a lot of small choppy moves EUR-USD will start to have more longer and bigger moves with an upside bias.
In our view this change will start this coming week and become more pronounced next week.
Here is how our systems did last week;
System 1 gain 8 pips for the week, is -179 pips for month and +29 pips for year. Go here for complete details.
System 2 lost 1 pip for the week, with monthly total -204 pips and annual tally -11. View details here. |
Discretionary trades.
Last weeks refreshment. We added EUR-USD long position . It's performing poorly,
right being about 60 pips under water. We continue holding it as our outlook is longer and currently trade is well within our risk tolerance. |
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| Currently loss of 60 pips. |
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Our other featured trades are also not doing very good at the moment.
After initial successes both AUD-JPY and GBP-JPY fell into losing territory.
AUD-JPY is -40 pips right now and GBP-JPY is -130 pips.
While we don't like it, we are not particularly worried and continue holding both trades. |
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| Currently -40 pips. |
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| At a loss right now. |
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Next week trades.
We will focus only on one developing situation for this coming week.
That is a long trade in AUD-USD. We have a standing BUY order at 0.7430,
with a target of 0.7500-0.7510. We'll see what happens. |
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| Target 80 pips |
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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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