The FED minutes showed nothing new. Rates are on pause. Inflation is not a concern. Chances of any more hikes is almost over. The economy is clearly slowing dramatically. Retail sales were the lowest in a decade. Apple sales are slowing. More people are falling back on mortgage payments than ever before. Highest number of student loans outstanding. Both US and EU are facing headwinds. So its a call between two poorly performing economies. One is highly priced despite the weakness developing while the other is priced at par.
We take a look at some of the general direction for EURUSD and DXY.
EURUSD is forming a nice upward support layer at 1.1335. Its been tested and held. Looks that it is going to higher. The PMI today could be the trigger. The FXCOT system will take the trade when it satisfies volatility and BREAKOUT conditions. So we wait for the system to initiate. The system is never early and it waits for all confirmation.
DXY: General direction
Dollar index has the Nth time failed at 97.3. This is epic failure. Everytime it nears 97.3 , it turns back. It makes us wonder if it needs to go much lower before it can break above ? We think dollar bullishness is suspect.
GBPUSD LONG TRADE SHOWN BELOW
EURUSD LONG TRADE SHOWN BELOW
The trade copier fxcot system is doing very well. The two long trades added to returns.
The monthly returns now shows +9.2%. Solid additions. Has a good win rate at 84%.
The system is agnostic to which way the prices moves. It goes with the flow. It does not work on "what should happen" but it works on "what to do now based on what is happening". Therefore it never shorts a rising pair and never longs a fall currency. It always longs a pair which is rising above key levels and goes shorts below certain levels. Stops are placed for each trade. Also the system trades with volatility and breakout strategies. You can read more about the system in the trading strategy. Its the age old principle of trading at key levels. No new magic portion. What it does well is it repeats the same strategy over and over and over again on the same set of pairs. It does not invent any new methods. Fully automated and fully secured from noises.
What is even better is that this system is available to large clients trading 100k or 500k or even into millions. This system is offered both on MT4 and the bank/institutional channel FIX. FIX allows immediate execution with zero slippage and allows for IOC and FOK orders unlike MT4. But if you are a retail client, you can go ahead with MT4. The best part: The system is offered free till 31st March 🙂
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Only new accounts from the link above can use the system free. These accounts are on the same trading servers as ours and has a 1ms latency. This makes sure the trades execute at fast speeds.