October 16, 2011 Forex Signals Report

Commodities, Global equities and a handful of major currencies all rallied overnight on Friday as European Officials met in Paris from the group of 20 economies to discuss a revamped strategy to beat the regions two year sovereign debt crisis. Whilst Europe’s plan has yet to be made public US Treasury Secretary Timothy F Geithner, who attended the meeting has told reporters that the plan does contain the correct elements and that if implemented correctly would be sufficient to end the turmoil which has rattled financial markets in recent months. This remains to be seen as Mr. Geithner’s previous policies and plans have all worked so well…

With such plans clearly winning the confidence of Global Markets the EURO rallied to a 24-hour high of 1.3893 against its US Counterpart, opening this morning a full cent higher at a rate of 1.3882. In other news released on Friday, market sentiment was given a further boost with US Economic Data surprising the market on the upside as Retail Sales came in well above expectation, advancing 1.1 percent for the month of September. Meanwhile this morning the US Dollar opens stronger against the Japanese Yen at a rate 77.196

Now, on to our open positions and new trades. Lets take a look at the specifics:

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