Week of June 4th, 2007
The USD/CHF broke through resistance at 1.2300 and is now stuck
at 1.2400. We continue to move in the right direction as we
are only 13% from being even for the year and 33% from realizing
an approx. 30% gain YTD. We are pretty satisfied to be within
striking distance coming from a 52% drawdown in the worst market
conditions for our strategy. If we can pull even to positive
for the year at the half way point and clear these old trades
from our books, we will be in good shape to make some gains
the last half of 2007. We have also added a long position on
the USD/CAD as the pair trades at historical lows. We believe
this trade can pull us into profitability as we are looking for
a 300-500 pip move in the next several weeks. -DC Bonta
Economic Calendar
Jun 13 8:30 AM Retail Sales
Jun 14 8:30 AM PPI
Jun 15 8:30 AM CPI
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Weekly Trade Idea
This Week
If you would have traded the range as we said, there were many
pips to grab. It hit 1.3400 almost to the pip (low of 1.3393).
before shooting up to 1.3554 for a 154 pip gain. Then, it
bounced off that level not even testing 1.3600 and dropped to
the 1.3400 level for another 154 pip gain. It has now broke
through support at 1.3400 as it trades at around 1.3325. Look
for the next major support level at 1.3241.
Last Week
The EUR/USD did trade in the range we called and you could have
played the bounces near monthly support at 1.3400 several times
for nice gains. These levels should still be valid until we
have a definite break. Play the bounces if there is little
buy/sell pressure going into the pivot.
If you would like more information on trading with our auto
trade program, please call 888-882-2338 24/7 or visit http://getresponse.com/t/8814974/577168/184560569/
Strategy of the week
Disclaimer: The information and opinions in this report are
for general information use only and are not intended as an
offer or solicitation with respect to the purchase or sale
of any currency. All opinions and information contained in
this report are subject to change without notice. This report
has been prepared without regard to the specific investment
objectives, financial situation and needs of any particular
recipient. While the information contained herein was obtained
from sources believed to be reliable, author does not guarantee
its accuracy or completeness, nor does author assume any
liability for any direct, indirect or consequential loss that
may result from the reliance by any person upon any such
information or opinions.
1StockTradingandInvesting
www.1stocktradingandinvestingsecrets.com
New York
NY 10005
United States
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