Sunday, November 30, 2008

How did the candles do last week?

We had two calls last week, one on usd/jpy and the other on usd/chf. the candles were bullish on the dollar against the franc. For a while it looked like they were going to be very wrong but as the week progressed the dollar strengthened and the pair closed the week 79 pips down. Still, the candles did give a wrong call with a forecast rating of -0.65%.
Meanwhile the yen was stuck in a range. The candles had been bearish on the dollar aginst the yen. They were right but only to the tune of 32 pips, giving a forecast rating of +0.34%

This gives us the sum toatal for the week of -0.31% and an overall running total of +9.24.
The candles continue to keep their cards close to their chests and there's only one clear signal this week, on gbp/usd. I'll write that up and give my take on the candles for the other majors tomorrow.

Until then, have a good one.
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