While most of the economists are predicting an end to this equity rally that started in march, currency markets do not seem to care too much about it. When clouds geather over equity markets they are usually followed by false breakouts on the FX front, but by the next day the same clouds are gone and all we have left is the volatility and the same old range. Who could imagine a better FX market than this, both sides of a 2,5% range are tested within the same day, well not the best for the trend followers, but perfect for daytraders.

The two hungarians on the top are doing a wonderful job, the shape of their performance chart is something fund managers would always aim for.

István Karagich a prominent member of the Hungarian FX markets is mixing FX options and spot FX. So far always a seller in options is perfectly playing the range in majors, EURUSD being one of the favourites, while also selling options in spot gold. On the spot side Mr. Karagich is looking to stay with the high interest rates currencies while shorting the one with a smaller rate. Not all the time playing the carry, sometimes he is betting on HUF weakening. As long as range is his friend, his performance graph is about to climb, but as we all know ranges are not forewer….

Mr. Szabó was not that successful at the beginning but finally his strategy proved to be functioning. Playing the range in EURUSD and EURHUF he only had 3 booked losses. So far so good, as long as the range stays he is about to increase his account value. Apart from the spot FX, Mr. Szabó bought some of the cheap financials as a CFD, if the forecast for the end of the equity rally prove to be wrong, he is about to stay on the top…..