Wednesday, October 26, 2005

Forex Trading 10/26/05

8:00 am- Analysis

Good morning everyone. The Euro made another decent range last night with 74 pips of movement. The 5 day average daily volatility is getting bigger so we're starting to see more movement from the Euro. I think today will be like yesterday regarding what to expect. The Euro will either correct itself from last night and move back up or continue the trend and make a breakout below the EU low. However, the Euro might not even move at all especially since Greenspan is speaking today at 1:45 pm EDT. Traders might wait until he speaks before trading which could cause the market to be flat during the US session. As always, be patient and wait for a good breakout and/or signal. Happy trading!

Key Levels:

EU Session High: 2135
EU Session Low: 2061
Calculated Target 1: 2114
Calculated Target 2: 2008

No comments:

Subscribe to this blog