Friday, September 02, 2005

EUR/USD 9.02.05

4:46 pm- 1 Trade Won

I was kind of disappointed with the lack of movement after the NFP, but hey I still got some pips off of it. There was a classic short signal right after the news came out and I entered 3 lots short at 2517 with a stop loss at 2548. My first target was for 14 pips and it was hit at 2503 at 930 am. I closed 2 lots and moved my stop to 2511 and was stopped out at the very next candle. So it wasn't a huge gain, but at least I closed the week off on a good note :)

Results: +28 +6 -9(spread)= +25 pips













8:00 am- Analysis


Good morning everyone! Euro made a huge range a 100 pip range last night. The movement has really picked up since last week. This is a good sign that the "dry spell" might be over. If you notice on the charts I didn't put any calculated targets. That is because the Euro has "technically" made all of it's movement already. Of course, this is not true, but as for a calculated target..I don't have any. NFP comes out, so I'm sure there will be plenty of movement. I think this report will affect the rest of the day's movement. If there happens to be a break of the EU session high, I think we'll see a movement at least to 2600. If there is a break of 2600, I think we'll see a very nice move up. However if the price cannot break R1, or the EU session high, then I think we'll see a bounce down back to the EU session low. Today I'll probably wait for a signal rather than a breakout, but we'll see what happens :) Happy trading everyone!

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