Tuesday, October 04, 2005

Forex Trading- 10.04.05

Forex Analysis- 8:00 am

Good morning everyone. I have a good feeling that there will be a nice trade today. The Euro only made a 29 pip range last night. That is very narrow, even for the Euro. Also, the US rate decision will be made today at 2:15 pm EST, so I think that will move the market. The rates will go up so I would expect the Euro to move down, but then again, sometimes the Euro will surprise you. If I don't find any trades during my normal session (8-12 EST) I might trade after the interest rates are announced. Happy trading everyone! I'll try to post throughout the day.

Key Levels:

EU Session High: 1938
EU Session Low: 1904
Calculated Target 1: 1991
Calculated Target 2: 1975

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