This has been a great month for us. We continued the good performance we had in October and made 794 pips profit this month. The US Dollar uptrend acceleration lent us a helping hand as well, since our main strategy this month was to sell EUR/USD on retraces. The US Dollar made about a 5 cent gain against the Euro in November and closed from the lows of the beginning of this year. The ECB will have their meeting in a couple of days, so things could get much worse for the Euro. Some members of the ECB have already hinted at the market this month for more action with their dovish comments. The BOE also was pretty bearish and abandoned the hopes for a rate hike soon, so the Pound has felt heavy recently.
The US Dollar bulls corralled in November
Forex Signals
Last month was a good month for us regarding the performance of our signals. This month was even better; we increased our performance and the continuing gains of the US Dollar went in line with our strategy to sell the Euro, particularly against the Buck. We made 794 pips this month so this makes November a great month regarding our forex signals service performance. The number of forex signals was slightly lower than our average. Mondays and Fridays have been quiet. On top of that, the last two days of November were extremely quiet due to Thanksgiving in the USA, so these were the days with low signals service activity. However, that didn´t affect our performance. This was a month of short-term forex signals, since we only had one long-term forex signal. The only long-term forex signal we had was a sell forex signal in EUR/AUD, which we issued in the third week when this pair retraced to the 20 moving average after a strong downtrend. As you can see in the chart, the pair resumed the downtrend and we closed our forex signal manually for 83 pips. The original take profit was 50 pips lower so if you stuck to that your profit should be 50 pips higher.
We opened the signal when the price touched the 20 MA, and we closed it at the black line below
We issued 73 signals in total this month, of which 60 closed in profit and the other 14 hit stop loss. That gives us a win/loss ratio of 81:19 which is pretty good, as the results show. We had a great start of the month as we made 317 pips in the first week, followed by another profitable second week when we made 111 pips. The third week was pretty good, also; we made 361 pips that week. The fourth week was a bit tougher for us since the market was very quiet and we couldn´t find many opportunities to open forex signals, but we managed to close it with a nice 88 pip profit, as you might have read in our weekly review. We traded 10 pairs this month, 8 of which were profitable and we had minimal losses on only 2 pairs. We opened most forex signals this month on EUR/USD, and with 361 pips it was the most profitable pair for us, followed by USD/CAD ...
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