We had a great run during yesterday's noon session. Our signals system took advantage of the positive housing report arriving from the U.S. at 15:00 GMT time. If you are members of our FXML community, you probably got a “real time updates” email a few minutes before, advising you to get ready and prepare for the trading opportunity this event brings creates.
The anticipation for the EU summit which took place later that day brought panic by the investors' side, who sold the risky Euro like teenagers getting rid of last year's clothes collection 🙂
As a result, the euro fell to a multi-year low, at 1.2567(!!). Expectations that the EU summit would bring a fresh, positive sentiment to the markets turned out to be wrong. Right now it is very hard to bet on that. My advice is to pull back and stay away for awhile from the market.
The traders who have followed our signals did pretty well, as our signals system closed 4 signals with profits, and one more breaking even. What made it even nicer was the fact that three of them (the euro-dollar and pound-dollar) accumulated big losses just before the announcement, which completely reversed the charts back down, creating loads of profits for us.