Saturday, November 15, 2008

How did the candles do last week?

3 sound calls gives us a weekly forecast rating of +8.85%. That's two good weeks in a row and a running total of +10.98% : better than keeping your money in the bank, no danger!

Here's how last week's forecast breaks down:
eur/usd:The candles held true. Price fell as low as 1.2387 before recovering to close at 1.2688, bringing a weekly fall of just 112 pips. This gives us a faorecast rating of +0.88%
usd/jpy: The candles signalled uncertainty and we sat on the fence. The dollar fell 204 pips against the yen and support at 95.50 held and the pair closed at 97.06. We missed out but its better to be outside of a good position looking in than inside a bad position looking out.
gbp/usd: the candles said sterling was going to slide and it certainly did. gbp/usd opened at 1.5770, falling as low as 1.4555 before recovering to 1.4797. That's a fall of 973 pips - serious fallage! Forecast rating: +6.57%
forecast: the candles say that sterling is set to slide.
usd/chf: the candles said that the dollar was going to rise against the franc and that is what happened to the tune of 167 pips from open to close. The dollar rose to 1.20 on Thursday before falling back to close at 1.1917. This gives a forecast rating to +1.40%.

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