 | Warm greetings!
We hope all our readers had pleasant and enjoyable Easter! For us here it was a period of holidays, which resulted in somewhat abbreviated services. We are back to business as before.
All of our trades last week had very small targets, a little unusual for our "Rainbow" system but since all of them worked out as planned there is no reason to be dissatisfied.
Friday was an interesting day on many fronts. Economic news release in USA was met with heightened anticipation. Many brokers widened their pip spread prior to these events. What's more interesting is that liquidity also dried out significantly. We have the ability to monitor major liquidity providers and noticed that amounts for ask/bid dropped significantly. In broad strokes it means that the big market participants don't have a good grasp on how the markets are going to react to USA news. In a more down to earth terms it indicates that we are at an important juncture for USD pairs. From a practical stand point, we will be ready to go either way USD but will likely to focus on NON USD pairs over next few days as those are providing clearer picture.
See below our results from last week and follow the link provided to view trade by trade details. Our annual performance pages were also updated so please take time to view them also, as it will give you a better view on our longer term performance. |
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Here are the results we achieved last week:
- Rainbow made us 226 pips in closed trades;
- Daily Pound earned 36 pips;
- Daily Euro gained 32 pips for the week;
Follow the link on the right to view details |
Last week's results. |
We didn't feature "Next week's trade" in our previous edition. Instead here is the first trade taken last week in our "Rainbow" service. We went long USD-CHF for a quick gain of 35 pips. All our trades were both short in duration and with relatively small targets. |
This coming week we are taking a look at a cross we rarely focus on. It's EUR-GBP. While this pair doesn't move a lot in terms of pips, they are (the pips) of about double value compared to most other instruments. Under right circumstances, trading this pair can be an attractive proposition.
We are looking to go LONG at 0.6828 with a target of 0.6865. In an unlikely event of price gaping above our entry on the open, trade will be cancelled. We are using intermediate term charts, so it may take a couple of weeks for the trade to come to a conclusion. |  |
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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