Tuesday, February 21, 2006

Forex Trade - 02/21/06

4:50 pm EST- No Trades

Once again, it was a dull day in the market. The Euro range was very small so I was expecting a breakout, but it didn't happen that way. A couple times the Euro looked like it would move out of its range but it didn't meet our criteria for an Alba breakout so hopefully you stayed out today. Hopefully tomorrow will be better.

Results: +0 pips

8:00 am EST - Analysis

Good Morning! From the looks of a 24 pip range durning the EU session, traders are still sitting on the sidelines. The biggest reason for lack of volatility is the release of the US FOMC minutes at 2:00 pm EST. It's been a very difficult time to trade. Traders are expecting at least two more interest rate hikes, but US economic data may say otherwise. The FOMC report may give clarity to the Fed's future moves and hopefully give the market some direction. We do have the US Leading indicators report coming out at 10:00 am EST, but because most of these indicators are previously reported, the report usually has little affect. Alright Alba traders, let's stay focused! Good luck and good trading! ~Pipcrawler

EU Session High: 1.1923
EU Session Low: 1.1899

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