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Very interesting we just had. Large moves pretty much everywhere we looked. A lot of interesting twists and turns. For one, CAD once again is showing some strength, although this is not likely to continue. Far more interesting is USD situation. Just as it looked that dollar is in midst of a strong rally, staging major comeback, the credit markets put a serious kink into it.
In an emergency session FED decided cut interest rates by 0.75%. That is a large cut and very surprising to most. The FED action was taken in an effort to keep recession at bay. Stock market responded by wide gyration, while USD went on a fairly large loosing run.
We don't know if the recession will be avoided, but, in our view, Dollar will begin to get stronger over next 2-3 weeks, while other central banks around the world go on a rate cutting spree of their own.
These large moves helped our systems to achieve decent results, especially "Daily Euro". Service had a very good week and is again positive for the year. Please see the results below and follow the link for details.
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Here are the results for last week:
- Rainbow - CLOSED TO NEW SUBSCRIBERS;
- Daily Pound made 157 pips ;
- Daily Euro gained 310 pips;
Follow the link on the right to view details. |
Last week's results. |
Our featured trade from last week. We went long USD-CHF at 1.1090 and looking for a target of 1.1350. Our order was executed and then prices fell promptly. Trade almost hit a stop, but we are still in it. See the chart. |
| Trade of the week. |  |
We have chosen USD-JPY for the featured trade. Over last couple of days other currencies had a large run up against JPY. Looks like USD is setting up a large move on its own.
We placed a BUY order at 108.00 and we are looking for a run up to about 110.00 or 200 pips.
We wish everybody 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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