Thursday, April 06, 2006

Forex Trade - 04/06/06

2:20 pm EST- 1 Trade won

Well it was another excellent day for Miss Alba. We had a very strong move in the EUR/USD and luckily Alba helped us snag some pips. At 8:40 there was both an Alba signal and a breakout (which is usually a very good sign) and I entered 3 lots short at 2235 with a stop at 2308 and a target at 2197. My target was hit at 10:00 am and I closed 2 lots and moved my last lot to the high of that candle. Unfortunately I was stopped out at the very next candle at 2216. So far its been a strong week and hopefully we can maintain this momentum for tomorrow and finish the week out strong. Cheers! ~Big Pippin

Results: +76 +19 -9(spread)= +86 pips

8:00 am EST - Analysis

Good morning! Well, as expected, the ECB held interest rates at 2.75%. The euro made a rally up during the EU session creating a range of 51 pips as traders anticipated the interest rate statement. Today we have Initial Jobless Claims at 8:30 am with numbers expected at 305K. Also, US Secretary of Treasury John Snow will be testifying to the Senate today at 9:30 am EST.
Unless we see profit taking on the recent run up of the euro, or if there are any surprises, I expect trading to be muted today ahead of the NFP report coming out tomorrow morning. Again, always stay on your toes. Good luck and good trading!

EU Session High: 1.2330
EU Session Low: 1.2279

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