The world's dominant economies on Saturday took a small step toward smoothing out the global trade and currency imbalances at the root of the global financial crisis, overcoming Chinese objections and setting the stage for even tougher negotiations in the months ahead. Finance ministers and central bankers from the United States, Britain, China and other large developed and developing economies struck a compromise deal after all-night talks on how such imbalances should be measured, marking a small victory for host nation France as it embarks on a year-long leadership of the Group of 20 rich and developing nations. Large surpluses and deficits, notably those between the United States and China, have been identified as one of the key causes of the 2008 financial crisis that plunged the world into its worst economic recession in 70 years. Saturday's agreement will allow leaders to shift their focus to establishing thresholds - albeit nonbinding ones - for the criteria, which include debt, deficit and savings levels.
Our systems had a slow start to the year, similar to what happened at this time in 2010. January was losing month, but they are both recovering in February, and one has even turned positive for the year. Hopefully, the non-performing period is coming to an end. Please see the results below and follow the link for details.
(Sunday 02.20.2011.)
|
|
|
Here are the results for last week:
- Daily Pound made 181 pips ;
- Daily Euro gained 95 pips;
Follow the link on the right to view details.
|
Last week's results.
|
There was no new trade presented here during the last update, hence nothing to follow up on. So, we are taking a look at a possible trade in the NZD-USD. This pair is trying to reverse its recent sell off, we are waiting for a confirmation. That will be in form of the price moving above 0.7662, where we have a buy order waiting. Objective is 0.7750.
|
Trade of the week.
| 
|
We are also taking a look at the EUR-CHF, with a little longer horizon in mind. The chart is daily, where we think that the longer term trend is turning bullish. While the price is pulling back right now, we expect it to start climbing soon, and when that happens, we want to go long. Our buy order is placed at 1.3212 with a large objective of 1.3600.
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.
|
|
