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We hope everybody had great Easter and enjoyed some time with family and friends. Every trader needs a break from time to time. On Monday we had somewhat more activity that expected. Our "expectations" are based on market behavior in the years past. This year there was more action than traditionally on a day after Easter.
That must have to do with sharp moves the week before. US dollar got sharply higher at that time. This week, for a change, the trends reversed. USD gave up most of it gains, especially against EUR. Once again Euro stands on a verge of a new all time high. Looks like EUR-USD is ready to test 1.5900 and then 1.6000 area.
The 1.6000 level is another hugely important psychological area. General expectations are that it will hold. If it doesn't hold, many market analysts are predicting all out intervention by central banks in support of dollar. Claims are, that continued USD weakness will create havoc in world financial system. All that remains to be seen.
Our mechanical systems had decent week, despite being shorter. We took Monday off. Please see the results below and follow the link to view details.
Next week we will be updating our systems performance graphs year to date and publishing them. |
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Here are the results for last week:
- Daily Pound made 28 pips ;
- Daily Euro gained 72 pips;
Follow the link on the right to view details. |
Last week's results.
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| Here is our trade from last week. We went long GBP-CHF. As a reminder, our target here is 2.0700. Currently position is down from our entry, for a small loss. We stay with this trade. |
| Trade of the week. |  |
For the week ahead we are returning to a pair we have been discussing here over last few weeks, USD-JPY. This cross has been within a large range over last few weeks, and we think it might break out soon. We are looking to go long here at 101.30. Our target is as large as 106.00.
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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