Friday, July 15, 2005

EUR/USD 7/15/05

11:30- No good trades today. After the news, the price continued to bounce in between its major support and yesterday's low. Oh well, at least it was a positive week with no losses. Sometimes it pays to stay out of the market.

Eur is hovering around major support. It broke yesterday's low with the news. Will wait for either a bounce on support or a break.

8:15am- Analysis

Eur reached yesterdays high and is on its way to its low at the time of this post. Normally, I would take this trade now, as all the signals match, but the US PPI report comes out in 10 minutes. Since CPI was unchanged, I'm expecting PPI to be unchanged as well. I'd wait to trade until after the news and a clear direction is given. Look for a bounce off of yesterday's low or a break. That should give us a clear direction of where it will go the rest of the US session.

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