Still Uncertain

The currencies still seem uncertain on what direction to go. The Asian market seem to have most of the moves again. Last Sunday was certainly that way, but this Sunday/Monday was much more subdued.

The dollar lost ground initially against the pound, but gained it all back by the end of the day creating another doji. The euro gained ground on the dollar for the day. The yen and swissie also had dojis ending near where the day began.

The biggest surprise for me today was the overall lack of movement. The euro, swissie, and yen had a very small interval, not even breaking 100 pips. Not only that, the European session and New York sessions were very flat.

The trends I was expecting never formed leaving some open trades on the edges of the pip interval today. I did 23 new trades today, closing 17 winners including 2 older trades, 0 losses, and 20 trades remain open. The net pips today is +290.7 pips, or 3.64% gain.

Here are the stats for Monday, October 5, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5936	1.6022	1.5900	1.5932	122
EUR/USD	1.4602	1.4668	1.4580	1.4646	88
USD/CHF	1.0330	1.0357	1.0306	1.0321	51
USD/JPY	89.44	89.96	89.38	89.53	58
GBP/JPY	142.53	143.91	142.29	142.64	162

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com