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Latest News : Oct 16, 2016

fx24’s Trading Performance Report (TPR 93) for September 2016

It has been another exceptionally difficult month trading-wise. Not as bad as August, but poor nonetheless. The year started out normal enough, but over the past three months the trading environment has steadily deteriorated to the point where three out of every four short-term ‘technical’ price signals in the EUR/USD and OIL have proved false. And GOLD hasn’t been much better. The last time I can remember conditions being anything like this was in the last two quarters of 2007 –and previous to that in November 1991, just before Sterling fell out of the ERM –not that I am implying the current situation has anything specifically to do with Brexit. But, it does I believe, have political overtones. Because it’s clear that the markets are being manipulated by powerful forces with a mind to ma...

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