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2008 is certainly off to a running start in Forex markets. Large moves, with some crosses showing very large moves. Swiss Frank is making big waves in against all currencies. GBP-CHF has experienced largest price swing in many years, falling about 1100 pips just this year and about 3000 pips since November. Last time a move of this magnitude happened was in 1996 when this pair appreciated dramatically.
Unfortunately, we happened to be on the wrong side of this move and suffered heavy losses. The losses are surely recoverable, but will take some time. We decided to make a drastic move and close our "Rainbow" service to new subscribers. We must focus on existing customers and that is our primary objective now. Service will reopen to public when we recover recent losses.
Our remaining services had a rather typical trading period, with both "Daily Euro" and "Daily Pound" showing modest gain, in line with historical averages. Please see the results before and follow the link for details.
We are moving some pages on our website out of navigation. Pages dated before July 2007 will be affected. That's done in order to facilitate website viewing and shorten loading time. If you want see our updates from before July 2007, simply send us an email and we will reinstate them for a week or so. |
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Here are the results so far in 2008:
- Rainbow - CLOSED TO NEW SUBSCRIBERS;
- Daily Pound made 118 pips ;
- Daily Euro gained 77 pips;
Follow the link on the right to view details. |
Last week's results. |
We have not posted any trades last week, so there is nothing to follow up. |
| Trade of the week. |  |
We are taking a look at EUR-CHF. This cross has seen some good size moves of late.
We are looking for a change of direction, if only temporarily. Set up is to go long at 1.6356 with a target of 1.6420.
We are using hourly charts here, which means that should our order be executed, the conclusion is expected rather fast.
We wish everybody a great trading week. |
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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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