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Thursday, July 5, 2007

Forex Trading; GBP/USD and the BOE Rates Decision...

Today, July 5th. Bank Of England announce the interest rates at the 5.75% (previous 5.50%). This announcement makes this currency price hikes to 2.0201, although before the interest rates decision the GBP/USD fall slightly to 2.0121. I was expected that the 2.0201 would be break, but the GBP/USD extremely fall to 2.0088.

I've learn something today. Everything could happen with the markets, especially during the news time.

You should decide your profit target. And then close your trading position when the profit target achieved. This step is important to anticipate if the markets moving in unexpected level.

We don't know what happen out there sometimes. Could the Bank interfere the markets with billions of dollar to make the price moving to certain level? I said yes, It could possibly happen. Regarding insider trading, it probably exists once in a while. There is no guarantee that the Bank announcement wouldn't leaking.

Now, I am waiting for the Federal Reserve announcement tomorrow.

Posted by fxidea at 5:37 PM

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Forex Signal Trading Results


Date(GMT)ProfitLoss
Jan 2503.40+150pips-
Total Results15.00+650pips-50 pips
Since June 13th 2007

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