Turnaround

It looks as though the recovery of the dollar against the pound has come to an end and the dollar may be beginning a new trend losing ground again. The dollar gained on the pound for the last five days, but only gained on the other European currencies the last two days.

Today, it looks as though that trend is starting to reverse. It was a fairly light day in volume and modest pip intervals. Most of the movement occurred during the Asian session with the dollar gaining strength. The European session was pretty flat, and during the New York session, the dollar gave up ground. The day ended up as a doji on the pound, ending pretty much where it began. A doji tends to indicate a change in direction.

I also had a lighter day in trading. I did 18 new trades, closing 18 winners including 5 older trades, 0 losses, and 21 trades still remain open. The net pips for today is +307.3 pips, or 4.88% gain.

The SummerstreetFX account also had a light day. I did 6 new trades there, closing 6 winners including 2 older trades, and 6 trades remain open. The net pips for today on SummerstreetFX is +97.8 pips, or 1.84% gain.

Here are the daily stats for Monday, September 21, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6221	1.6262	1.6132	1.6215	130
EUR/USD	1.4699	1.4712	1.4610	1.4678	102
USD/CHF	1.0303	1.0388	1.0290	1.0322	98
USD/JPY	91.32	92.52	91.29	91.92	123
GBP/JPY	148.12	149.56	148.04	149.04	152

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com