Subscribe
Services
Forex Data
Forex Bookstore
| Welcome back!
Another week of very strong moves. US dollar denominated pairs have once again showed serious volatility. Markets seem to be tuned to, and reacting, any comments coming out of Osaka. That is where the G-8 meeting is taking place. To be more precise, the financial ministers of the top industrialized nations are holding their periodic meeting. They are also mapping out agenda for the summit of G-8 leaders next month, in Japan as well.
According to official statements, inflation and fast rising commodities prices are the main subject. Mainly oil and food prices, which have shown largest monthly increase in 18 years. USD weakness is widely seen as a main culprit of surge in prices and is likely to be the topic for discussion. Since the meeting continues into the weekend, we would expect above average price movement after the open on Sunday, in response to whatever announcements, or comments, might surface.
Dollar had a nice run last week, but the rally ran out of steam late Friday. Just as it seemed it was for real. In order to confirm some significant change in the trend, we must see EUR-USD to move under 1.5300. That is where the market stopped and reversed just before the weekend. So for now we are still stuck in a wide band between 1.6000 and 1.5300, with a pronounced bias to the down side.
Strong moves and increased volatility are good trading environment for our mechanical systems. Both of our services posted good gains lately. See the results below and follow the link for details, which were updated to include new performance graphs. |
|
|
Here are the results for last week:
- Daily Pound made 137 pips ;
- Daily Euro gained 155 pips;
Follow the link on the right to view details. |
Last week's results |
| Here is a quick look back at our trade from last week. We went short EUR-JPY at 165.19. Our trade was stopped out at 166.20 for a 101 pips loss. We are contemplating another short entry here. This time we have an order at 165.42 and our first target is 164.60 and if that happens, 164.00 is next. |
| Trade of the week. |  |
For this week we will focus on AUD-USD. It has been a while since we featured this pair here. Good size sell off has just taken place here, and chances are it will continue. At least that's the direction of our intended trade. We are placing a sell order at 0.9322 and we expect to see it reach 0.9250, or about 70 pips move.
We wish everybody 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.
|
|
