Having only exited a profitable 1 month trade to the long side on the Solas M Series Portfolio on Tuesday the EURUSD has quickly resumed its longer term downside weakness as Eurozone concerns once again make the headlines.
For much of the second half of 2011 the Euro was under sustained downside pressure owing to the escalating Eurozone financial crisis before finding 16mth support at the 1.26 level against the dollar at the end of the year. Following the impressive start to 2012 the Eurozone concerns went off the front pages (though never far away) as the markets posted an impressive upside rally. Recent days however has seen the Greek bailout crisis come back on the agenda and with it renewed weakness in the Euro.
The Solas Trend Finder software has quickly adjusted to the change in sentiment and indeed price action as it generated a new short signal on the Solas M Series Portfolio. The portfolio has made a very impressive start to 2012 and has produced profitable EURUSD trades both long & short ytd. The latest short signal comes with an initial dynamic stop loss @ 1.3179.
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About the Solas M Series – Global Portfolio
The Solas M Series – Global Portfolio is a multi strategy, multi sector, multi instrument construction. The portfolio trades both long and short with a view to giving you a broad diversification across various sectors using multiple systematic trading strategies in order to maximize potential returns, while reducing your down side risk.
Solas trade the Solas M Series portfolio on a live $100k tracking account.
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