THE CURRENCY TRENDS SERVICE
USER GUIDE
COVERAGE INCLUDES:
EURO/USD USD/YEN USD/CHF USD/CAD AUD/USD USD/SING USD/ZAR
STG/USD EURO/STG STG/YEN EURO/YEN EURO/CHF NZD/USD
EURO/SKR EURO/CZK
EQUITY INDEX: FTSE 100:

CURRENCY TRENDS is a Foreign Exchange trading tool for use by both short and long term
investors in the foreign exchange market.

CURRENCY TRENDS does not waste your time. It states clearly and concisely what its market
expectations are.

CURRENCY TRENDS does not hide. The client knows exactly the date and rate of position entry
levels recommended by the system

CURRENCY TRENDS backs its own forecasting system with its own funds through its Fund
Management Group

CURRENCY TRENDS is used by growing numbers of major global banks, confirming not only
its high values but also its increasing market influences.

In addition to providing foreign exchange forecasts, CURRENCY TRENDS includes a daily
forecast of the FTSE 100 Index. Some subscribers take CURRENCY TRENDS for this facility
alone.

The daily commentary is short, sharp and precise, and is considered to be amongst the most well
informed in the market today

HOT TIPS is an additional and unique service provided to our subscribers. When a Trend Reverse
has been signalled by the system then this will be communicated via e-mail to all subscribers.
ESSENTIAL USER INFORMATION

INTRODUCTION
CURRENCY TRENDS is the system, which is being used by our Fund Management Group
(HAYCORD FUND MANAGEMENT) to manage leveraged funds in the Foreign Exchange Markets.
After many years of successfully managing funds in these markets, we have now been requested to
make the system available commercially. In response to those requests, the service is now available and
is being widely used by the international foreign exchange community. Currency Trends is used by a
large number of major Global banks, confirming not only its high value but also its increasing market
influence. The following information is a guide, which will assist the user to take the most advantage in
using the Currency Trends daily advice service. Our service is delivered via our Web Site allowing you
to unlock the door to profitable trading.

OVERVIEW
REFERENCE RATES USED BY CURRENCY TRENDS ARE ESTABLISHED DAILY AT
13.00 HOURS EUROPEAN TIME BY BHF-BANK FRANKFURT AND PUBLISHED BY
REUTERS AT 13.15 HOURS EUROPEAN TIME ON PAGE “BHFX”
The system is based on a series of various moving averages, which are weighted in accordance to their
importance. The levels used by the system are generated from Foreign Exchange rates provided daily at
13.00 hours by BHF-BANK FRANKFURT and published at 13.15 hours on Reuters on page BHFX
(and also published on our Web Page www.currencytrends.com). The resultant levels arrived at by
Currency Trends, produce a “Trend Reverse” point upon which the system pivots. When the Trend
Reverse level has been calculated it becomes the action point for that currency pair for the next 24
hours. A position is only taken when a Trend Reverse level has been broken, at the time of publication
of the next daily BHF-BANK rates, (13.15 hours) indicating that the previous trend has been reversed.
If the price action in the market is BELOW the Trend Reverse level, then the relevant dominant
currency is sold in anticipation of a down move and conversely, bought if it is ABOVE the Trend
Reverse level, in anticipation of an up move.
The dominant currency is the first currency named in a currency pair. The dominant currency in
USD/YEN is the Dollar, so a sell signal will mean a recommendation to sell US Dollars. As an
example, should spot USD/YEN be trading around 114.55, during the European trading morning, and
if the Trend Reversal level on that day’s spreadsheet was at 115.25 it would mean we were currently in
a “sell Dollar trend.” However if, during the European trading morning the spot rate moved up through
the Trend Reverse level of (in this case 115.25) we would be anticipating a change in the Trend
Direction. Should the subsequent publication of the BHF-BANK rates (13.15 hours) be ABOVE the
Trend Reverse level 115.25, the system is confirming a CHANGE of TREND from SELL to BUY, US
Dollars. Apart from all clients receiving advice by e-mail of any change, the Web Site will also show
the Trend Reverse rate on the daily spreadsheet as “scrolling”
Currency Trends recommends waiting for the 13.15 hours fixing level in order to avoid unnecessary
entering or exiting of positions, aptly referred to as “whipping” in the market. Taking our prior
example of the USD/YEN, should the price fall back through our Trend Reverse level, a careful watch
is called for and if considered necessary, the position should be exited.
For example USD/YEN is fixed at 115.35, above the Trend Reverse level, a position of Long
USD/YEN has been taken. If, due to unusual market activity, the price action trades down through the
fixing level of 115.35 a trader could exit the position. However Currency Trends recommends holding
the position until the next daily fixing for confirmation of the new trend, or confirmation of a failure.
Therefore if the next days fixing level is 115.30 and the new Trend Reverse level is 115.15, a Long
USD/YEN position should be maintained, as the Trend is still up. If the fixing was at 115.05 and the
new Trend Reverse level is 115.15 the position should be reversed and a return to the previous Short
position take
These Trend Reverse levels are usually powerful barriers and there is nothing wrong, once a trader is
comfortable with the system, with opening a position prior to the 13.00 hours fixing should these Trend
Reverse levels be penetrated. Upon confirmation at 13.15 hours, a trader may wish to increase a
position. Many of our established clients trade in this manner, using Currency Trends, Trend Reverse
levels as “pivot points” and increasing a position at the 13.00 hours fixing level with the subsequent
confirmation of a move. These clients claim their profits are in excess of those reported by the system,
because they are trading in this more aggressive fashion. However it is worth noting if you choose to
trade in this manner the number of trades and level of market monitoring are necessarily greater.
All Entry Rates published by Currency Trends are based mainly on rates provided daily by BHFBANK FRANKFURT. This obviously allows room for improvement of entry/exit levels by an alert
subscriber.

L / T TREND REVERSE (Long Term Trend Reverse Level)
The system also projects a Long Term Trend Reverse Level. This was originally designed as a trading
tool for Currency Trends corporate customers. Much longer term averages and a different set of
weightings are applied in calculating this level, which results in far fewer trading signals through the
year, and is provided for companies managing long term cash flows and currency hedging.
The long-term Trend Reverse level is not a prediction or our expectation of a future exchange rate. It is
simply a level, which if broken will re-confirm the current trend.
For example if a currency pair moves through a Long Term Trend Reverse level, which is confirming
the shorter term trend level, it signifies a strong confirmation of a trend or an indication of an
acceleration in a trend. A trader may therefore use this level to increase a position, or if profit has been
taken ahead of the long-term Trend Reverse change, positions can be reinstated with a high degree of
confidence. These long-term Trend Reverse levels tend, also, to be very powerful barriers.

REFERENCE RATES / FIXINGS
The majority of our Fixing rates are based on reference rates determined daily at 13.00 hours by BHFBANK FRANKFURT. These reference rates are made available by BHF-BANK to the European
financial markets for various commercial transactions. The BHF-BANK rates are published daily at
approximately 13.15 hours European Time and can be found on Reuters page BHFX.
Currency Trends fixing rates may be found on our Web Page www.currencytrends.com and are
published daily at approximately 13.15 hours European time.
The fixing rates will closely resemble current market prices available at that time and are used by
Haycord Trends as the fundamental comparison to our daily published Trend Reverse Levels.
The following currency pairs, STG / USD, USD / YEN, USD / CHF, USD / CAN and STG / YEN are
calculated from the EURO cross rates provided by BHF-BANK.
The following currency pairs, EURO / CZK, USD / ZAR, USD / SING, AUS / USD and NZD / USD
are produced by taking the mid-point of the current rate from the relevant Reuters screen at 13.00 hours
European Time.

POSITION TAKING
The Trend Reverse level could well be described as the “action level”, as positions are only taken by
the system when these levels are broken. A “HIGHLIGHTED IN GOLD” Trend Reverse level
indicates the system is expecting a change of direction and special attention should be paid to the
corresponding currency pair, especially at the time of fixing. The system only expects positions to be
taken at 13.00 hours European Time if a Trend Reverse level has been broken. Positions may be taken
prior to the official fixing level, should a trader wish to pre-empt the 13.00 hours fixing. However the
system will only change its position based upon the official fixing level.

NOTIFICATION OF TREND CHANGE
Notification of all Trend Changes is provided by e-mail to all subscribers and those on free trials as
soon after the 13.00 hours fixings as possible.
Also all Trend Changes resulting from the 13.00 hours fixing are “HIGHLIGHTED IN GREEN” on
the spreadsheet.
The TREND column will show the NEW Sell or Buy Trend and will “Scroll or Blink” depending on
the characteristics of your browser.
The ENTRY DATE column will show the NEW entry date
The ENTRY RATE column will show the NEW entry rate
The TREND REVERSE column will continue to show that day’s Trend Reverse level

MONEY MANAGEMENT
Currency Trends has found that the safest route to regular profit is achieved by taking profit at certain
levels during a currency move. This profit level varies from currency to currency. When that level has
been reached, Currency Trends recommends 50% of the position is closed (at a profit) and a stop loss
on the balance is placed at the entry level. The profit taken on the second half of the position is then at
the discretion of the investor.
We would point out that Greed is one of our biggest enemies when trading in this business and one
must remember that there is always another opportunity coming along. Our advice is never to be afraid
to lock in profits and await the next signal. The system has proved time and time again that
PATIENCE and DISCIPLINE result in PROFIT. Greed is our enemy and must be avoided, as it
invariably results in reduced profit or even loss. A good Money Management Plan is essential to
profitable trading.

LOSS TAKING
No system can ever be considered infallible. Although Currency Trends forecasts market trends highly
accurately and consistently, unexpected economic and political events may cause a market to
temporarily, and sometimes dramatically, oppose a trend, putting market participants into loss
positions. Also, markets can become trend-less and drift in an aimless manner. At such times we will
advise the investor to take a lower market profile.
Taking a loss is very much dependent upon personal experience and confidence and we would
recommend, that until an investor has become well acquainted with the system, only cautious and
modest investments are made using Currency Trends. This will normally provide a moderate but
comfortable level of profit and a growing appreciation of the system. Loss taking possibly requires
greater discipline than that required when taking profit, and we recommend that investors set
themselves an acceptable loss level which, when reached, the position is exited. There will be times
when having taken a new position, the market will move back through the Trend Reverse level. A
greater deal of price monitoring, at this time, is therefore essential. Although this situation will cause an
element of concern, premature exiting of the position is not advised as our experience shows that,
unless there has been some unexpected news, the trend will be reconfirmed the following day.
However a stop loss must always be placed at the chosen loss level. We at Currency Trends will
invariably hold our position until the following day to confirm the accuracy of the system. However
we will always have placed a stop at our "acceptable loss level".

BEST PERFORMING CURRENCIES
RECORDS SUGGEST THAT THE FOLLOWING ARE THE BEST PERFORMING
CURRENCY PAIRS UNDER THE CURRENCY TRENDS SYSTEM
EURO/USD (previously) USD/DEM: Probably the most popular forecasted currency pair requested
from CURRENCY TRENDS, and also one of the best performing. We recommend taking half profit at
the 90 / 100-point range.
USD/CHF: Dollar Swiss is used, in the main, as an indicator for a dollar move and for the more
experienced Trader / Investor it is best traded on a break of the TREND REVERSE level rather than
waiting for the 13.00 hours signal. For the less experienced operator we would suggest waiting for the
13.00 hours signal. We recommend taking half profit at the 120 / 130 point range.
AUD/USD: The Australian Dollar continues to perform well and we are aware that two major
Australian banks in London are well satisfied with Currency Trends track record. We recommend
taking half profit at the 70 / 80 point range.
EURO/STG (previously) STG/DEM: The system’s accurate forecasting of Sterling Mark movements
has resulted in a healthy profit record for the past 5 years. We recommend taking half profit at the 55 /
75 point range.
USD/CAD: Our track record in forecasting CANUSA has made us many friends in North America and
amongst the Canadian Traders in London. We recommend taking half profit at the 80 / 100 points
range.
EURO/SKR (previously) DEM/SKR: A major Swedish Bank requested we include this pair in the
daily service and it has subsequently become a star performer. We recommend taking half profit at the
500 / 700 points range.
EURO/YEN (previously) DEM/YEN: Currency Trends forecasting of Mark Yen has provided regular
profit as well as a guide to the market’s underlying assessment of the European / Asian economic
relationship. We recommend taking half profit at the 85 / 100 points range.
Although we have mentioned the above currency pairs as being, historically, our best performers,
recent additions, such as USD/ZAR, NZD/USD and EURO/CZK (previously) DEM/CZK have
provided outstanding returns over the past months. Also such stalwarts as STG/USD, USD/YEN,
USD/SING etc., should not be ignored as they produce a regular source of income and provide balance
to your portfolio. Never put all your eggs in one basket.

OTHER SERVICES
FTSE 100 (FOOTSIE)
Currency Trends record of accurately forecasting the movements of The Financial Times Stock
Exchange Index over the past 36 months has been outstanding. Currency Trends has clients that take
the service for this function alone. This instrument must be traded on the break, using the trend reverse
level as a pivot point. Essential user information for Equity Index Trading is contained on our EQUITY
INDEX TRENDS Web Site www.equityindextrends.com
OUTLOOK (Market Commentary)
The OUTLOOK box on the daily report is vital reading for all clients. The opinions and comments
made here are based on more than 25 years of market experience, together with daily information from
our market contacts with leading banks and fund managers.
Currency Trends does not believe in
dealing for dealing's sake. If we believe caution is needed in the market, then we will say so.
EVENTS (Economic Statistics)
The EVENTS box contains a list of economic announcements to be made that day together with the
general market consensus of the expected statistical outcome. Any notable event having the possibility
of a significant impact on the market will likely be referred to in the OUTLOOK box.
HOT TIPS
HOT TIPS is an additional and unique service provided to our subscribers. When a Trend Reverse has
been signalled by the system then this will be communicated by e-mail to all subscribers. This advice
should be treated with caution if it is not viewed and acted on promptly.
SUPPORT.
We are available for help and comment on the system between GMT 0800 and 1700 hours for
subscribing clients. Subscribers will receive the necessary contact information following their
successful application for the service.

GLOSSARY OF TERMS
CURRENT LEVEL: The market price of the designated currency pair at approximately 07.00 London
Time on the date of publication of the Currency Trends Service.
TREND: The current position of CURRENCY TRENDS and position of the Fund Management
Group, should they be holding a position, on the morning of the date of publication of the Currency
Trends Service.
ENTRY DATE: The date on which the market price had broken through the TREND REVERSE level
at 13.00 hours, Western European Time, indicating that a new position should be taken. On this date, at
13.00 hours, the Fund Management Group would have taken a new position.
ENTRY RATE: The rate at which our Fund Management Group took their latest position. This rate
will correspond to the Fixing rate for that particular day.
FIXINGS: The majority of our Fixing rates are based on rates determined daily at 13.00 hours by
BHF-BANK FRANKFURT. These rates are then made available by BHF-BANK to the European
financial markets for various commercial transactions. These BHF-BANK rates are published daily at
approximately 13.15 hours European Time and can be found on Reuters page BHFX.
Currency Trends fixing rates may be found on our Web Page www.currencytrends.com and are
published at approximately 13.30 hours European Time.
The fixing rates will closely resemble current market prices available at that time and are used by
Currency Trends as the fundamental comparison to our daily published Trend Reverse Levels.
STG / USD, USD / YEN, USD / CHF, USD / CAN and STG / YEN are calculated from the EURO
cross rates provided by BHF-BANK.
The following currency pairs, EURO / CZK, USD / ZAR, USD / SING, AUS / USD and NZD / USD
are produced by taking the mid-point of the current rate from the relevant Reuters screen at 13.00 hours
European Time.
TREND REVERSE: The level at which action is recommended should this rate be broken at 13.00
hours Western European Time (The Fixing). The TREND REVERSE level is published daily as part of
the CURRENCY TRENDS service and should be considered as the level at which action should be
taken, either to take a new position or reverse an opposing position. A “HIGHLIGHTED IN GOLD”
Trend Reverse level indicates the system is expecting a change of direction and special attention should
be paid to the corresponding currency pair, especially at the time of the fixing.
(Further information concerning the TREND REVERSE level is contained, under POSITION
TAKING, above).
L/T TREND REVERSE (Long Term Trend Reverse Level): The LONG-TERM TREND
REVERSE level is not a prediction or our expectation of a future exchange rate. It is simply a level,
which if broken will re-confirm the current trend. The LONG-TERM TREND REVERSE level will not
alter as regularly as the TREND REVERSE LEVEL, which seeks shorter-term movements. Should a
break in the LONG-TERM TREND REVERSE level and a break in a TREND REVERSE level signal
the same direction then this would confirm a very strong directional move, or an acceleration of an
existing trend.
SCROLLING / BLINKING RATES HIGHLIGHTED IN GREEN: All daily TREND CHANGES
resulting from the 13.00 hours fixing are highlighted in GREEN on the spreadsheet.
The TREND column will show the NEW Sell or Buy Trend and will “Scroll” or “Blink” depending on
the characteristics of your browser.
The ENTRY DATE column will show the NEW entry date
The ENTRY RATE column will show the NEW entry rate
The TREND REVERSE column will continue to show that day’s Trend Reverse level
1ST RESIST: The first level at which market resistance to an upward move can be expected.
2nd RESIST: The second level at which market resistance to an upward move can be expected.
1st SUPP: The first level at which market support to a downward move can be expected.
2nd SUPP: The second level at which market support to a downward move can be
expected.