Wednesday, July 12, 2006

Forex Trade - 07.12.06

4:25 pm EST- No trades

Even with the Trade Balance report we still did not have a good Alba breakout or signal. The actual news candle at 8:30 caused an Alba breakout but because I don't trade news candles, I stayed out. After the news, the price hovered around the EU low and never gave me a good entry for another breakout or signal. We'll just have to wait another day. Must.....have.....patience....! Cheers! ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning! We have U.S. economic reports coming out today at 8:30 am EST and 10:30 am EST. Most notably, we have the U.S. Trade Balance at 8:30 am EST. The consensus is about -64.6 B, but we may see a surprise after the better than expected Chinese export report. We also have ECB Pres. Trichet in a discussion with Giuliano Amato, Minister of Internal Affairs on the Euro economy at 11:30 am EST. His comments will affect the euro, but we probably won't see it during out trading time frame. So, please be cautious during those trading times. Good luck and good trading! ~ Pipcrawler

EU Session High: 1.2779
EU Session Low: 1.2711

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