Monday, March 06, 2006

Forex Trade - 03/06/06

4:00 pm EST- No Trades

Hello everyone! Today we had some close calls but unfortunately there were no trades today. At both 11:20 and 11:40 we had Alba breakouts but the profit potential was clearly too small to enter the trades. There was very little movement in the Euro today and I did not make any moves. We'll just have to sit tight and hope something happens during the rest of the week. ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good Morning! Hope everyone had a great weekend! Today we have Factory Orders coming out at 10:00 am EST. Factory Orders is the change in the orders for goods in the manufacturing sector. The forecasted number is -5.4%, so economists are expected weakness which could be good for the euro, bad for the dollar. At the moment the EURUSD is trading at the low of the EU session and it will probably remain there until about 10:00 am EST when Factory Orders come out. Mondays are always a difficult day to trade, so stay focused and ready. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2080
EU Session Low: 1.2014

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