NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

FX League: Europe On Top, North America At The Bottom

Published 18/10/2014, 19:56
EUR/USD
-
USD/CHF
-
CAD/CHF
-
EUR/AUD
-
EUR/CAD
-
AUD/JPY
-
CAD/JPY
-

This the 4th fixture of the FX League.

To begin with, let's look at the last week’s achievements:

1. AUD/JPY - SHORT from 93.42 to 93.49 = LOSS 30.85 $pips
2. CAD/JPY - SHORT from 96.11 to 94.81 = PROFIT 117.81 $pips
3. EUR/AUD - LONG from 1.4528 to 1.4584 = PROFIT 45.52 $pips
4. EUR/CAD - LONG from 1.4122 to 1.4388 = PROFIT 236.21 $pips

The overall result of the week: PROFIT 368.69 $pips.

*The SWAPs are included in the statistics.
*$pips term is used to standardize the calculations. So every profit and loss is counted as US Dollar was the base currency.
*Volumes: 1. Vs 8. – 3 times basic volume, others traded with basic volume.

The overall FX League result (1st and 2nd fixtures): PROFIT 1008.58 $pips !


TREND:

Euro reached the top scoring 17.4 out of 21 points available. The second Franc only 0.9 point above Japanese Yen, which lost the leadership after a few weeks of being on the top. Furthermore, on the bottom AUD and CAD which scored 2.1 and 2.4 points respectively, these are the worst results ever achieved in the FX League.

1

MOMENTUM:
Kiwi grew from 8.1 to 15.6 points in comparison to the last week and took the league. While Japanese Yen made similar movement, but in the opposite direction, from 15 to 6.9. Nowadays long positions at Yen are past. Moreover, very weak scores achieved by Canadian and USD, which scored 4.5 and 3.3 points respectively.

2

OVERALL:
The period when Yen was leading has just ended, after a few weeks of being on the top Japanese currency was relegated even from the Top2. Moreover, the time of Continental Europe has started, Euro is leading with Swiss Franc just behind its back. Changes occurred also on the other side of the table, Aussie managed to leave last place and is classified as 6th currency, while North American brothers on the bottom.

3

***18.11 as a neutral score of the League***
EUR, CHF, NZD, JPY – Bullish currencies!
GBP, AUD, USD, CAD – Bearish currencies!

More specifically:

4

Taking all this into account, I open such positions:
1. EUR/CAD - LONG from 1.4389 (volume: 3*x)
2. EUR/USD - LONG from 1.2759 (volume: x)
3. USD/CHF - SHORT from 0.9459 (volume: x.)
4. CAD/CHF - SHORT from 0.8383 (volume: x)

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.