Friday, July 07, 2006

Forex Trade - 07.07.06

No trade

Seeing how there was a tight range during the EU session, I definitely expected a breakout. The breakout occured as a result of the Non Farm Payroll but because it was a news candle I did not trade it. After that, the price pretty much just stayed put and I didn't see any good breakout or signals so I just stayed out of the market. No trade is better than a losing trade so I'm ok with missing out on the move :) Cheers! ~Big Pippin

Result: +0 pips

8:00 am EST - Analysis

Good morning! Well, it's the first Friday of the month, which means at 8:30 am EST we get the US Non-Farm Payroll report! This report measures the number of new jobs created in the previous month, and it's a market mover. Now, consensus has been all over the place, so traders have no idea what to expect. Be very cautious and stay out of the market Alba traders until the volatility dies down. Good luck, good trading, and have a great weekend!

EU Session High: 1.2791
EU Session Low:1.2749

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