Thursday, February 23, 2006

Forex Trade - 02/23/06

4:07 pm EST- No Trades

Unlike the other days this week, there was actually some movement today. However, we still did not see a reliable signal or breakout. The lower than expected jobless claims is probably the reason for the fall in the Euro, but it wasn't enough to push it beyond the EU session range. At 940 it looked almost like a signal, but the first candle didn't quite meet our criteria. If you happened to enter on accident, you still would've won provided that you calculated your target correctly. After that, there wasn't anything else exciting and the market just kind of stayed flat for the rest of the day. I'm really hoping for a trade tomorrow as today was a real tease! ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good Morning! Well we had some record news coming out of GER causing the majors, including EURUSD, to make strong moves during the EU session. Today we have weekly Unemployment Claims at 8:30 am EST and EIA Crude Oil Inventories at 10:30 am EST. Not considered market movers, but as you can see from last night, surprising numbers can do big things in the forex market. With a wide range such as last night, let's look for an Alba signal with a move down to the bottom of the range, or a possible breakout if it moves to the upside. Good luck and good trading! ~Pipcrawler

EU Session High: 1.1957
EU Session Low: 1.1896

1 comment:

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