Tuesday, April 25, 2006

Forex Trade - 04/25/06

2:37 pm EST- Breakeven Trade

Well it wasn't a good or bad day today. At 8:10 am there was an Alba breakout and I entered 3 lots long at 2428 with a stop at 2396 and a target at 2446. I knew that the Consumer Confidence report and Existing Home Sales were coming out at 10am so I had intentions to close out my trade before the reports came out. At around 9:50 the price started to go against me and I ended up closing my trade out at breakeven. So no luck today but at the same time, maybe I was lucky as the Euro dropped after the better than expected news reports. Just another reason why the times are crazy right now. We have a weak dollar sentiment but strong dollar fundamentals! What will the EUR/USD do next? Find out next time on (insert show name here) Cheers! ~Big Pippin

Results: +0

8:00 am EST - Analysis

Good Morning! Today we have US Existing home sales and the Consumer Confidence being reported today at 10:00 am EST. The housing data will be closely watched as it has had a lot of focus in recent months as an indicator of consumer confidence. Today's forecast number for Existing homes sales is around 6.65M and the consumer confidence number is forecasted at 105.5. Alright Alba traders, I know it's been a rough week or so, but keep your heads up. Every trader goes through rough patches. Stay focused, good luck and good trading! ~Pipcrawler

EU Session High: 1.2418
EU Session Low: 1.2371

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