Thanks to this forex system’s strict rules, it was able to gain more than 100 pips from EUR/USD and a couple on GBP/USD. Check it!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
EUR/USD traded on a tight range for most of the week thanks to traders holding off from committing to positions ahead of the FOMC statement. The pair got its action when market players got disappointed over the Fed’s statement and pushed the euro to the 1.1400 area in the second part of the week. Unfortunately for the system, the tight trading conditions resulted to a lot of fakeouts and a net of -95 pips for the HLHB System by the end of the week. Boo!
Unlike EUR/USD, Cable was on a steady trek higher for most of the week. One possible reason is optimism ahead of the UK’s inflation and employment reports. It might have also helped that dollar bulls took off some of their positions ahead of the FOMC statement. The uptrend didn’t do the HLHB System any favors though, as the system got hit with a 50-pip loss which contributed to the 57-pip system loss by the end of the week.
Fingers and toes crossed for a better week next week!