I didn't want to start an "official" journal mainly because I don't trade a system. Sometimes I just go with my gut feelings. Anyway, I want to keep this thread open to discussions about short-term plays in Eur/Usd. 8/18/2004 There are no major US eco #s coming out and given that Friday had a big move I expect today to be a range bound day--50-60 pips High-Low. Anyway, we'll see what the day brings. Time to go to bed now and get up in 4.5 hours. E/$ might break 1.4347 (low of the day so far) but I need to keep my energy for tomorrow. Good nite/morning. Chinook
The TIC data in the US later today could be v significant - any signs that the US are struggling to fund their deficit could lead to another $ rout.
Thanks for pointing this out. http://www.forexnews.com/ didn't show it but http://www.nasdaq.com/econoday/calendar/US/EN/New_York/year/2004/month/08/day/16/daily/index.html did. Chinook
TIC data was much better than expected with an upside surprise as well as a strong upgrade to last month's data. With Euro not being able to break through a daily trendline from the highs above 1.29 that come in around 1.2380, look for a move down to 1.2270-1.2320 to buy a dip for a move back up to the trendline.
I personally like selling the euro against this trendline, but for a day trade and risk/reward considerations, you've got a good shot. This summer has been tough for any sustained trades, so if you can job 30 pips out of a trade, you're ahead of the game.
looks that way today, but for lack of other data and otherwise uneventful price action...not much to get excited about.