Tuesday, 2 February 2010

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Another sideways trading day. Our first signals were to Buy the EUR and Sell the CAD and CHF. Then we saw a Buy signal in the GBP. At 10:15, momentum in the open positions fell and prices fell back towards their stops. All open positions were closed. Momentum returned again to FX prices and we took the signal in the EUR and closed it for a net profit of 3 pips at the end of the trading session. There is a lot of economic data scheduled for release later in the week and we expect the FX markets will be quiet ahead of this news.