World Clocks

Thursday, June 29, 2006

Fed Rate Announcement Earlier this Afternoon



  • 2+ weeks of Bearish EUR ended this afternoon with a bang after Fed raised STI 1/4 point. huge spike bar pretty much sums it all.
  • The key 61% retracement ~.2481 just could not be taken out, it was solid support and USD with multiple trys failed every time.
  • Clearly the EUR from the early part of 2006 has been on a Bullish path. With the 2+ week pullback, it's time to look for a bullish continuation.
  • Entered an Asian market pullback Long on EUR, also added small position Short on Swissy. For Eur and US session I'm looking for next Fib levels to be tested, and gauge whether this afternoons sentiment will remain strong.
  • If trend remains intact, I expect a much bigger move being Long on EUR as opposed to Short the past few weeks.
  • Overall pleased with gains last few weeks, over 150+ pips on 1 trade 40+ pips on added positions. This through many many days of heavy chop and whips, this week up until today being totally miserable for trading.
  • Glad to see gains returning as well on equity positions, more relieved about that than FX.
Posted by Seaducer67 at 11:36 PM

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Foreign exchange transactions carry a high degree of risk and any transaction involving currencies is exposed to, among other things, changes in a country's political condition, economic climate, acts of nature - all of which may substantially affect the price or availability of a given currency.

Speculative trading in the foreign exchange market is a challenging prospect with above average risk. You must therefore carefully consider your investment objectives, level of experience and appetite for such risk prior to entering this market. Most importantly, do not invest money that you are not in a position to lose.