World Clocks

Friday, June 09, 2006

US Trade Deficit Report


  • After news, 25-30 pip whips, key support of 1.2600 seems to be holding just happens to be 50 day MA. Good chance of the EUR bouncing if this doesn't get taken out next time around.
  • Still holding short position from yesterday currently +108 pips. May scale down the position today and hold small position this weekend.
  • This news release is a tricky one to trade, I've seen price come back near open after surging either direction, a reasonable size TP is the way to go, not a trade you want to hold long if you're not already in one.
  • Trend 5
Posted by Seaducer67 at 11:46 AM

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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.