Comments: We closed the remaining open positions in USD/ZAR last week. For this week we expect most currency pairs to remain range bound with a risk aversion bias as the markets try to decide if the concerns about the global economy are overdone. Positive US jobs data helped boost sentiment slightly. If we get some positive news out of Europe we may see a risk rally otherwise we will stick to our long USD trade bias. Watching the markets closely.
Updated trade log is included below (Assuming Micro lots and 1:50 leverage)
- None -
Net Profit (Week ending 10/01/2011) = + $ 3909.8
Trades Week ending 10/01/2011:
USD/ZAR: Buy Price=7.71; Sell Price =8.273; Units=3; Profit= $ 2041
Net Profit (Week ending 10/08/2011) = +$ 5950.8
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