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We had yet another great week with +180 pips from just one trade bringing our total to +3255 pips. So far this year we have progressed gradually and steadily towards building a solid equity and client base. Now we are making it even better to establish ourselves further for 2012.

Within 24 hours we will make a major announcement in regards to our services and prices. These changes are based on feedback we received from our readers and past members. We are confident that the new changes will address our shortcomings and provide services that could be utilized by large number of traders.

Keep an eye on the inbox for our announcement.

First of all it is good to be back from holidays. Trading will continue as usual, though there are several exciting changes that will be announced shortly. Please keep an eye on your email. In the meantime lets analyze the market.

Last week EURUSD moved below support at 1.4080 and later broke rising Trendline as well. Most likely we will see a rebound up as a re-test of the Trendline Breakout.

S&P Volatility Index (VIX) is at the highest level since the beginning of the year. Caution is advised until we see volatility back to normal level.

Recent fundamental announcements are the real driving force behind EURUSD. The risk of Greek defaulting on its debt grew last week which caused Euro to weaken and at the same time investors bought US dollar as a risk aversion strategy.

So far Swiss Franc was considered a safe haven and we saw it gaining strength against USD and Euro. However last week Swiss National Bank drew the line in the sand by intervening and promising to continue in order to keep their currency at lower levels. Bank of Japan is also likely to intervene if Yen falls below 75.00 against US dollar. Considering these factors investors are turning to US dollar and buying it to lower their currency risk.

This week we may see further buying of US dollar and perhaps more weakening of Eurozone fundamentals.

Look for shorts around 1.3950-70 when price come back to re-test the Trendline. We will remain bearish unless price close above the Trendline.