 | Greetings!
It was a relatively quiet week for most currencies, especially dollar crosses. Seems like the markets are waiting for the outcome of next FED meeting, which takes place on May the 9th. Some fast moves are expected after that, but which way it's anybody's guess.
Sticking to our long standing policy, we are not predicting what the FED decision might be nor the market reaction to it.
We are quite fascinated by the spectacular run Canadian dollar has been experiencing lately. In general terms we think this particular move has just about played itself out, but we haven't seen any turning signals just yet. There's been plenty of speculation on just why CAD has gotten so strong. Different theories fly about, but the most persistent is about oil market and the "black sands of Alberta", the underutilized Canadian oil deposit. We managed to get a some pips out of CAD strength, going short EUR-CAD last week. Scroll down this page for more on that trade.
On oil related subject, the price of unleaded gasoline at a gas station nearest me was $ 3.44 yesterday. Not the premium, regular. All time high, according to the owner.
At any rate, April has come to a close and time has come to sum up our efforts.
Our "Rainbow" system made 1463 pips in closed trades. We still have one outstanding open position.
"Daily Pound" had a good month also, with 397 pips in profit for April, although last week was at net loss.
"Daily Euro" gained only 44 pips, which makes for a lukewarm month. Unlike "Daily Pound", this service had a good last week, however. |
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Here are the results we achieved last week:
- Rainbow made us 337 pips in closed trades;
- Daily Pound lost 40 pips;
- Daily Euro gained 55 pips for the week;
Follow the link on the right to view details |
Last week's results. |
| Last week we featured a possible trade in AUD-NZD. As you can see on the enclosed graph, our entry price hasn't been reached therefore no trade. Most of our trades last week were against the AUD and they played out. We'll keep an eye on this pair in the future. |
| Here is the trade we mentioned earlier in this report, EUR-CAD short play. Our target was hit for a nice profit of 100 pips. It was our best trade last week. |
More of AUD trading, well, possible trading. We are looking to go short AUD-JPY at 98.24 with a conservative target of 97.50. Here is the chart.
We'd like to wish everybody a great week and profitable trading. For those of you celebrate, happy Cinco de Mayo! |  |
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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