European Cousins Follow Suit

On Friday, the pound moved in a big way losing ground to the US dollar. Today, the Euro and Swiss Franc followed suit losing big amounts to the US dollar, about twice the normal pip interval. This all occurred during the New York session despite not having any economic announcements. Very interesting. To me this signifies that the dollar's losing trend is, for the moment at least, over.

It's too bad I did not get this retracement when I expected it on Wednesday. Well, that was last week. As I said on Friday, I need to take a few days off to clear my head. So, I did not trade at all today.

Also, SummerstreetFX wants me to fly to Boston to meet with them on Thursday. I have a networking lunch on Wednesday, so I do not know how much I will trade this week. Probably not much. I'm very curious about my meeting in Boston.

Nonetheless, here are the daily stats for Monday, October 26, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6286	1.6393	1.6249	1.6333	144
EUR/USD	1.4992	1.5061	1.4844	1.4874	217
USD/CHF	1.0091	1.0201	1.0050	1.0180	151
USD/JPY	92.14	92.27	91.56	92.15	71
GBP/JPY	150.12	151.12	149.10	150.51	202

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com