Tuesday, December 13, 2005

Forex Trade -12/13/05

8:00 am EST - Analysis

Good Morning! Well, it looks like our charting software is still not acting right! Does anybody know any good charting software?? It might be time to switch...hehe. Well, today at 8:30 am EST we have retail sales reports coming out with Advanced retail sales consense at 0.4% vs. previous -0.1%. Retail sales less autos is consenses is 0.0% vs. 0.9% previous. We may see some movement from these reports, but I think traders are going to wait until the FOMC meeting today at 2:15 pm EST. It is projected the Fed will raise from 4.00% to 4.25%, but the question of the day is "will there be more interest rate hikes?" We'll have to wait and see. Until then let's get focused on the what's going on in the market and remember to wait 30 min to 1 hour after news reports to trade to avoid any whipsaws. Good luck and good trading my friends! ~ PipCrawler

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