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

Published 18/10/2014, 19:56
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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)

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