Wednesday, January 18, 2006

Forex Trade - 01/18/06

8:20 pm EST- No Trades

Good evening everyone! It was definitely a strange day in the market. The CPI and TIC data came out today which made promise for a strong move, but unfortunately it did not give us a clear direction. The TIC data came out higher than expected at 89 billion which led me to believe that the EUR would drop. It was kind of strange because the EUR actually went up for a little bit and almost gave us a breakout for a long trade. After about an hour after the report came out, the EUR finally dropped. It hung around the EU low for a while and made one final push before 12 but couldn't break through. As a result, we once again had no trades today. Hopefully we'll get some direction by the end of this week. Cheers! ~Big Pippin

Results: +0

8:00 am EST - Analysis

Good Morning! Looks like an action packed day for the Alba session as we have a few major US economic reports coming out today. Most notably we have CPI(excl. food & energy) at 8:30 am EST and the TIC report at 9:00 am EST. Both have a high potential to move the market, especially if the numbers are off consensus. The Consumer Price Index is the measure of inflation felt by consumers, and CPI(excl. food & energy) consensus is coming in at 0.2%. The TIC data measure the foreign demand of US debt and assests. Last time we saw a record number of 104B, but this time consensus is coming in at 74B. Lately, it seems like the market is taking a little bit longer to factor in news reports. So, Alba traders be especially wary of these moves. Be patient and wait for the signals/breakouts. Good luck and good trading! ~PipCrawler

EU Session High: 1.2152
EU Session Low: 1.2080

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