moneyAfter some vacation induced slumber, last week proved to be extremely busy for me. In fact, it’s been a while since I had such prolific and profitable week.
I just hope it lasts. We have a lot of interesting things happening right now. EUR made all time high against USD but lost ground against CAD. That means that CAD is seriously strong at the moment, although I don’t think it will last much longer.
GBP-USD slipped from it’s highs, and I managed to take some pips out of that.
Entry was at 1.9975 and target 1.9875. I got a little lucky here as the target was hit but barely, only 1-2 pips under. At any rate, that was 100 pips right there. I must mention, however, that the wicked action on Friday put a kink into my line of thinking about this pair. I’m waiting for some more price to “paint” itself on a chart before I commit myself.
Our services also had a very good week. You can see the results by following this link
http://www.spectrumforex.com/weeklycomments/04292007.html
Since I’ve been covering NZD-USD for a while, here is a look at last week results of my trades there. I made two trades, with the first one taking in 69 pips early in the week.
Next one was taken a little later and made 53 pips.
Just like with GBP-USD, after Friday, my confidence is shaken a little bit here also. Time will tell.
Friday moves were somewhat excessive in relation to most recent history, last few weeks. I hope that the moves will stay large and fast, it’s easier to make some money that way. Right now, however, I have to “zoom out” in order to have get some ideas.
I’m looking at AUD-USD, medium term chart. I think that break under 0.8225 will take this pair to 0.8100 in fairly short order.
Incidentally, EUR-AUD also indicates an AUD weakness and AUD-CAD already sold off over 250 pips. In other words, AUD is under pressure.
Appears to be warm outside, so time to go out. Dinner, light entertainment, good sleep. My best thinking is done in the morning and then back to work.
Adios!
