May was a month where the US Dollar actually went nowhere against other major currencies. Simply check out their quotes below:
May 1 open/ May 31 close/monthly change in term of pips:
GBP/USD (1.9876/ 1.9822/ -54) ;
EUR/USD (1.5620/ 1.5554/-66) ;
USD/CHF (1.0350/ 1.0420/+70);
USD/CAD (1.0065/ 0.9933/+132);
USD/JPY (103.93/ 105.50/-157)
Fact 2: Up Four Consecutive Months Since Inception
Despite trading only 12 out of the possible 22 days and the sideways price action, May was still a profitable month which pulled in another +75 pips. It was interesting to note that we made most of our profits from USD/CAD (+140 pips) and USD/JPY (+35 pips) since they were the significant movers than the rest.
Fact 3: Individual Performance Overview
A brief recap of their individual performance so far:
EUR/USD +365 pips
USD/CAD+245 pips
GBP/USD +160 pips
USD/CHF +115 pips
USD/JPY +90 pips
AUD/USD -35 pips
EUR/USD was the biggest gainer of all since the start, while the AUD/USD was the only one with negative pips.
In summary, May could be a sideways month paving for an expected up (or even down) month for the US dollar in June (i.e. the start of Summer trading). I believe our day trading strategy is well-tuned to capitalise on any significant market movements ahead of us.
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