Monday, September 19, 2005

EUR/USD 9.19.05

6:27 pm- No trades

Once again, Mondays are crap. I swear, I am so anxious to trade. I have big expectations for tomorrow because these last days have just been crap. The EU session has shown some movement, but the US session has been undecided for a while now. I'm thinking that tomorrow's interest rate decision will stir things up.

Anyways, there was almost a signal at 8:50, but the stochastics was still flat. There was no clear direction for stochastics and therefore wasn't a valid trade. Another fakeout trade was the breakout that occured at 11:00. That candle did not close at least 10 pips above the EU session high so there was no trade there. As you can tell, the price just bounced back down. Oh well, hopefully the rest of the week will be better.

8:00 am- Analysis

Good morning everyone! Hope you all had a great weekend. I have a feeling this week is going to show plenty of movement, especially compared to last week. The uncertainty of the German leadership is going to make this Euro drop. Also, with the US interest rate decision, which is almost guaranteed to rise to 3.75%, should push the Euro down even lower. I definitely have a down bias for the Euro this week. Remember to wait for a good signal or a clean break. Happy trading everyone!

Here are the key levels:

EU Session High: 2153
EU Session Low: 2100
Calculated Target 1: 2190
Calculated Target 2: 2108

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