Tuesday, August 16, 2005

EUR/USD 8/16/05

8:15 pm- No trades

Market was UGLY today. I think a big part of it is because it's August; the slowest month of the year. Anyways, the Euro looked like it would move down after the CPI report, but as you can see from the chart, the price never made a significant close below it. The price did move back up to one of my targets that I drew up, but I didn't get any clear signals to enter a trade. Oh well, hopefully tomorrow will be better.

8:00 am- Analysis

Good morning everyone! The US CPI report comes out today at 8:30 am EDT. I will be waiting until after the report to trade. There was a pretty decent move during the EU Session (about 66 pips), so I don't think the Euro will move that much today. However, I'm usually wrong so we'll see what happens :) Below is my normal chart with the EU session high and low, pivots, and possible targets. I'm hoping I can recover from yesterday. My goal is to finish positive for the week. I might have to consider not trading Mondays (as much as it kills me, haha). I lose most of the time on that damn day! I will be in meetings all day and I don't know if I can trade today, but I'm going to try to sneak away for a little bit at around 9:30 :) Happy trading everyone!

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