Thursday, February 16, 2006

Forex Trade - 02/16/06

2:38 pm EST- No Trades

Even with Bernanke's testimony today, the market stayed relatively flat. Housing starts made a surprise as it was higher than expected. However, the Euro still continued to rise. I don't know why the market does what it does sometimes, but I'm glad there were no breakouts or signals today. Hopefully tomorrow will give us a good trade.

Result: +0 pips

8:00 am EST -Analysis

Good Morning! We have a few US economic reports coming out at 8:30 am EST today such as Import Prices, Housing starts, and the weekly Unemployment Claims. The big news of the day is is going to be Fed Chairman Bernanke speaking again today on monetary policy at 10:00 am EST. Again let's wait until after he speaks before we enter any trades to filter out any whipsaws and volatility. Good luck and good trading! ~Pipcrawler

EU Session High: 1.1887
EU Session Low: 1.1848

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