Last Friday we closed the week and the month altogether. It was the last day of the third quarter as well, so the effects of the international cash flow were evident in the forex market, but not enough to cause major disruptions or have an impact on our trading.
All in all, it was a good month for us apart from some glitches. We made 462 pips from our forex signals in September which brought our total for the year to more than 3,000 pips so far. We got 112 pips from our long term GBP/USD sell forex signal, but that wasn´t even our most profitable forex pair.
EUR/USD was the most profitable pair last month. The profit from the high number of forex signals in this pair accumulated and at the end of the month it was larger than the profit from GBP/USD. The forex market became more rational as the liquidity returned after the summer holiday season. The volatility wasn´t too high either, which helped us focus more on the short-term forex signals.
There were plenty of important economic events last month, from central bank meetings to the OPEC agreement on the oil output level. We don´t yet know the terms of the agreement or if they will be totally implemented by oil producing countries, but the CAD got a lift immediately after the news last week.
The Algiers agreement sent USD/CAD 200 pips down
The market sentiment remains bullish towards this currency, so if you see us open a forex signal in USD/CAD it would be a sell one. On a side note, our EUR/USD forex signal seems to be going nowhere so don´t be surprised if you see us close it manually. We are already in October now so let´s gear up and hopefully have even better results than in September.
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