Opportunity This Week
The carry trade pairs seem to be on the comeback this week. Despite general weakness on GBP recently the GBP/JPY is looking like its in a solid rebound and even the GBP/CHF has leveled off. At this point, however, I would not ignore some of the great opportunities, using this same strategy, in the AUD/JPY and AUD/CHF. Both of those pairs have been moving nicely and offer a great premium. It is good to diversify a little anyway.
The trend in favor of the commodity currencies also seems to have some new life this week as well. The USD/CAD has continued Friday’s drop, the NZD is looking strong and don’t forget some of the great crosses like the CAD/JPY. Although the UK inflation numbers were flat today, I think we still have a lot of room to move on these pair.
AUD/JPY Breaking Resistance
Right now, I think our best trades are with the prevalent trends. Until we get better evidence that the fundamentals are changing and the good times are over I would not ignore the great opportunities out there in the forex. The one exception to this comment, however, is that I am only looking at the USD/JPY to follow equities to the downside this week. I will comment further on that in another blog post but I think short term trades are pretty speculative to the upside on that pair.
CMS Forex - Forex trading company review
CMS Forex was founded by professional Forex traders, Forex brokers, and software developers, and as a result has been able to identify traders’ needs from the very beginning. Since 1999, CMS Forex’s mission has been to provide the most powerful currency trading technology combined with quality execution, competitive services, and dependable customer service. Over the past seven years, CMS Forex has quickly become one of the world’s leading online retail currency trading institutions, providing secure, user-friendly Forex trading software.
With the achievements of 900% growth in the past three years, and the execution of over $80 billion in clients’ transactions in 2005, CMS Forex has ensured itself and its valued traders an advantageous position for the future.
CMS Forex strives to serve the emerging retail segment of the Forex community. Its commitment to providing innovative currency trading technology, fair dealing practices, and excellent customer service establishes CMS Forex as a major force that traders look to for advanced Forex charting, Forex news, and fund safety.
CMS Forex’s advanced trading software, VT Trader™, combined with the dedication to go above and beyond to meet its clients’ needs, create a system that traders know they can trust. These attributes, plus many others, prove that CMS Forex has built from the ground up a service that truly stands on its own.