Tuesday, January 17, 2006

Forex Trade - 01/17/06

5:55 pm- No trades

Good ol' Tuesdays! Today was very boring. The US Industrial Production and Capacity Utilization Rate didn't do anything to the market. You can see from the chart that the price stayed right around the EU low for the whole day. We almost had a breakout between 10-11am, but the criteria wasn't met. It's a good thing too because this market was ugly and that is definitely NOT Alba :) Hopefully tomorrow will be better. ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning! Hope everyone had a great three day weekend!! Sorry about the late morning start, I'm having technical issues, but I'm ready to go now! We have US Industrial Production and Capacity Utilization Rate coming out at 9:15 am EST today. Industrial Production measures to the total output of utilities, mines, and factories. It's an indicator of strength of the economy. Capacity Utilization Rate is the measure of the percentage of available resources being utilized. This indicator may signal inflationary pressures. So, watch out at 9:15 am EST. Hopefully, afterwards it'll give us a strong enough move for a breakout or Alba signal. Good luck and good trading! ~PipCrawler

EU Session High: 1.2139
EU Session Low: 1.2057

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