The US Dollar was very strong this month.
The Greenback has had some rough times at the end of August and in September, but this month it was time for it to take charge once again. Although it didn´t happen until mid-October when the US consumer sentiment sparked a wave of USD buying. The FED lent a helping hand by the end of the month when they issued a fairly hawkish statement, bringing the December rate hike back on the table. The ECB played their part as well, by commenting about negative deposit rates and an increase in the quantitative easing (QE) program. The rally in the commodity currencies finally came to an end and it looks like they are resuming a long-term downtrend. The USD price action fell in line with the fundamentals which made it easier for us. We had a very good month with the signals, closing October in profit of 835 pips.
Forex Signals
October was a really good month for us regarding signal service performance. The price of most of the major pairs had been closely following the economic fundamentals, so it has made it easier for us to read it and predict the moves. The USD came up after the positive US consumer confidence and GDP data, as well as the hawkish FOMC statement; so our signals kept hitting the take profit target, especially in the second half of the month. We also have increased the number of long-term signals in order to make the most of the large US Dollar gains and turn them into good profit for us. We closed a couple of them a bit early, such as the EUR/GBP sell signal and the USD/CAD buy signal, so if you’d have stuck to the original take profit it must be about 400 pips higher. We regret hesitating to open a long-term EUR/USD sell signal when this pair was at 1.15 (and would have made us 500-600 pips more), but we can´t complain after closing the month with 835 pips.
We opened two long-term sell signals in AUD/USD
This month we opened 79 signals in total; 70 short-term signals and the other nine being long-term signals. 59 of them hit the take profit target and the remaining 20 hit the stop loss target. That gives us a win/loss ratio of 75:25, which is slightly above our average long-term performance. We had two losing NZD/USD long-term sell signals at the beginning of the month when the commodity currencies were enjoying the ride up, but we made up for these with the other 7 long-term signals. As you can see on the chart above, we opened two long-term AUD/USD sell forex signals at the first and the second black mark, and subsequently closed with 106 and 103 pips profit. Our most profitable pairs this month were GBP/USD, EUR/USD, and AUD/USD, which contributed for the largest chunk of our profits.
The market this month
September wasn´t a really good month for the US Dollar. The Chinese stock market troubles at the end of August cast a shadow on the global economy and minimized the odds of a rate hike by the FED in September. As we know now, the FED left ...
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