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EUR/USD ranged tightly for most of the week, probably due to anticipation of the ECB’s monetary policy decision. And boy did Mario Draghi sure deliver!
With the ECB launching a more-generous-than-expected (60 billion EUR vs. 50 billion EUR expected) monthly QE program, forex traders were in a hurry to sell the common currency. Signal #12 caught the move perfectly, as it hit the system’s 200-pip profit target. Woohoo!
|1||Sell||1.1556||1.1556||0||RSI was already below 50|
|2||Sell||1.1559||1.1559||0||There was no crossover|
|5||Buy||1.1605||1.1605||0||RSI was already above 50|
|6||Sell||1.1574||1.1574||0||RSI was already below 50|
|7||Buy||1.1569||1.1569||0||There was no crossover|
|8||Sell||1.1573||1.1573||0||RSI was already below 50|
|9||Buy||1.1610||1.1610||0||RSI was already above 50|
|11||Buy||1.1624||1.1624||0||RSI was already above 50|
|12||Sell||1.1562||1.1262||200||Profit target hit|
Like in EUR/USD, GBP/USD’s price action was also choppy for most of the week. Unlike the former currency pair though, the system caught the big move a bit too late. Signal #10 was invalidated, which is probably why the system ended the week down by 34 pips on Cable.
|4||Sell||1.5145||1.5145||0||There was no crossover|
|5||Buy||1.5168||1.5168||0||RSI was already above 50|
|7||Buy||1.5143||1.5143||0||RSI was already above 50|
|8||Sell||1.5128||1.5128||0||RSI was already below 50|
|9||Buy||1.5150||1.5162||12||Adjusted stop loss hit|
|10||Sell||1.5086||1.5086||0||RSI was already below 50|
I’m not expecting any big moves from EUR/USD or GBP/USD this week, but I’m crossing my fingers for more valid (and profitable!) signals this time.
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