Friday, January 8, 2010

Back to business!

It's the first post of the year and a lot has happened since the last post. First off, happy new year! Hopefully this year we can make a lot of money and stay well and healthy during the process.
During the trading week that I had set up which pretty much ended after two days I came down with the flu. Recovering up until now, however the cold weather is not making it any easier for me, but I'm alright now and ready to do some trading!
By the way at the end of the trading project I ended up with with almost six hundred dollars totaling $5594, (with the initial investment of 5k, and that was during my time being under the weather. But enough about me and let's try to make some money in the currency markets!

As far as I can see, fundamentally, the disappointing results in NFP (Non-Farm Payrolls) are stalling the strengthening of the US Dollar pushing for example the EUR/USD higher again over 1.44 key level.

EURUSD_01.08

RSI level in the oversold range, but, this clears up some opportunities although I think caution is advised. A lot more economic data is happening in the upcoming days, weeks, but it looks like the pair is indeed too oversold. I'm not heading into any trade at the moment until more direction is shown.

I'll do some more research in the mean time.

Disclaimer:

All opinions expressed, trade recommendations/advice on this website are solely of John van der Munnik and are not affiliated with any investment firm or any other organization. You should not make an investment only based using this website VDM Trading for your trading needs without seeking help from your own financial advisor.