Good bye 2010, welcome 2011! In the currency trading world this means another member joining the Euro family - Estonia. Even if the EUR is fighting rumors of possible break up, not likely at this point, it is still the second largest currency around. While the 2010 was not as explosive for currencies as the 2008, there were still important developments. For example, the Australian Dollar and the Swiss Franc became much stronger. They closed the year at all time high against the US Dollar. Many countries intervened in domestic currencies, trying to make them weaker, minting the phrase "currency wars". The next year should be interesting, too, maybe even more volatile.
Our systems had a very good year. The Daily Euro produced best results ever at 4668 pips. This is substantially more than last year, and might not repeat in 2011, but one never knows... The Daily Pound, on the other hand, made 3664 pips, more in line with results from past years. We update detailed trade by trade pages, including performance graphs. Happy New Year!
(Sunday 01.03.2011.)
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Here are the results for 2010:
- Daily Pound made 3664 pips ;
- Daily Euro gained 4668 pips;
Follow the link on the right to view details.
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Last week's results.
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One of our services covers the GBP-USD. Since we trade it daily, this pair is very important to us. Uncharacteristically, the GBP-USD was rather quiet in 2010, that is comparing to other currencies. No large moves, no new price extremes. In fact, it settled into a range, which is still contracting. The weekly chart is showing a great triangle, one that will likely burst, probably in 2011. This should also bring increased daily volatility, something we are looking forward to.
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Trade of the week.
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Another currency pair that could have a big year in 2011 id the USD-JPY. We are not trying to predict which way the next move will be, but we expect something important to happen this year. It is still very close to the all time low of 79.75. From these levels it could easily develop another major leg down, or bounce very hard and make a long lasting double bottom. In that case, the bull market should be strong, considering just how steep the current down trend line is. A breakout above it might set a powerful uptrend in motion. Should be a very interesting year.
We wish everybody great and prosperous trading in 2011!
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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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