Monday, February 27, 2006

Forex Trade - 02/27/06

3:35 pm EST- No trades

Hmmm....what a surprise. No trades! True, it is Monday but the lack of trades really makes for some boring work (yes trading is work). As lazy as I am this is too long of a period to not do anything. Even with the new home sales report, the market barely flinched. As frustrated as I am, I have learned that keeping your emotions in check will keep you disciplined and prevent you from doing anything stupid. In this case, many of you might be anxious to push the "trade" button on your computer, but remember, patience and discipline is the key to successful trading. Hope you all had a great weekend and let's hope for a better week than last :) ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning! Hope everyone had a great weekend! Today the only US economic report we have to day is the US New Home Sales Report. It has a pretty low rating as far as potential volatility, but we'll still keep an eye out for it at 10:00 am EST. ECB president Trichet is speaking on the Euro at 8:00 am EST and if he does make any significant comments it should filter into the market within the next hour or two. The EURUSD made a small range of 25 pips last night, so look out for a possible breakout today. Mondays are usually a tough day to trade, so stay focused. Good luck and good trading! ~ Pipcrawler

EU Session High: 1.1862
EU Session Low: 1.1837

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