Interesting first week back

An article by Gus    No Comments

Hello everyone this was our first week back of trading since New Years and must say it was a very exciting one. Normally this time of year we get a lot of big news coming out of almost every currency pair regarding economics status. If you where able to get in some of the action this week then you probably where able to snag some extra pips, pretty good start for 2010. As many of you who I have talked to this week I have been experimenting with the GBP/USD pair a little this week with some very good luck.

While the GBP/USD has shown some good progress and strong potential to be one of my top currency pairs, I still have to stick with the GBP/JPY. If you looked at the charts hourly, daily and weekly charts they show how much the GBP/JPY moved this past week. While I still hold my bearish outlook on the pair it did gain some upward momentum this week even though I do not see it going this direction very long. This coming week I do feel like the pair should start coming down as it was suppose to.

I will be posting a more detailed article later this week on my full predictions for this and next month, given the fact that I have some feelings about what will be happening to Yen and some other currencies later in 2010 that should greatly affect the way we trade. Also I will be starting to do some long term trades soon using the daily and weekly charts, rather than just doing intraday trading.

Thanks,
Gus FX