In this video:
00:30 The weakening of US Dollar all week along
01:00 Having a huge gain on one trade in just 4 weeks
01:21 Taking a buy position on the Australian Dollar /Swiss Franc
Hi everybody Andrew Mitchem here the Forex Trading Coach.
Today is Friday, the 14th of September.
Can you believe? We’re already half through another month.
Well it’s been a really interesting week!
Today being Friday, we had the Feds releasing a whole host of new stimulus into the US economy and you could almost see that coming this week because the US dollar has been weakening all week long.
When they finally made that announcement today, the currencies such as the Euro US dollar, and the New Zealand US dollar, Australian US Dollar, all of those currencies – anything against the US dollar, have just gone sky rocketing straight up.
Its also helped us with the silver trade that I keep talking about and that's gone up 26% since I took that trade four weeks ago. The silver right now behind me is trading at $34.80.
So a huge 26% gain on that one trade in just four weeks!
So that’s going really well.
Elsewhere I've taken three trades today on the daily charts: I've got a short position on the US Dollar/ Canadian Dollar. That’s now reaching new lows that haven’t been seen for almost one year.
We’re also taking a buy position on the Australian Dollar /Swiss Franc. And I’ve taken a buy position on the Canadian Dollar/Japanese Yen and right now, all three are looking in really good profit.
If they are still open at the end of the week, I will then look at closing them manually before the weekend.
So all in all, it’s been another really good week and I look forward to talking to you this time next week.