EUR:USD Down below 1.4000
Well thankyou Mr President, his address to the nation has dropped the Dollar again, a six month low. That means there is plenty of room to go up from here. Lets just wait for a pattern to kick in.
Good for the AUS, NZ & Cable.
At this stage there are still no good patterns on the daily to follow.
My plan was to follow the daily. It is frustrating with their not being any good patterns on the majors, I want to get inbut better to wait.
On the Calendar, the only real thing to watch out for is at 13:30 GMT with the USD Durable Goods Ex Transport. This one is a monthly figure, about 26 days after month end. It is the chnage in total value of new purchase orders placed with manufacturers for durable goods
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My first report for the day
Well not a lot happening today from what I can tell today. No Patterns at this stage.
So my Coach’s favourite saying is “Better to have NO position on a winning trade, than to have a position on a loser”. With nothing happening at the end of the day, I am out of the market today.
The US Consumer confidence results were better than expected.
The AUD Consumer Price Index q/q forecast was 0.4 and came in at 0.5, previously 1.0.
Tomorrow there are so many US reports coming out, the one expected to change the most is Crude Oil Inventories expected to change from -0.4 to 1.4.
The #1 traded currency was USD:EUR with the EUR being bought 2:1 more than USD.
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Introduction
Hello everyone,
Well this is my blog on Forex.
I am a beginner at this point.
I have recently done a Forex Course and have setup my broker account. On the course I learnt 3 strategies simple through to more challenging. I had not been a trader before, so learning the graphs and learning the terminology was also a challenge.
I had decided and have committed to this being 1 of my 2 streams of income into the future. So this is pretty important to me. I am a risk adverse type of person, I like to plan and understand what I am doing. Forex trading had to fit within those criteria.
So what is this going to be about. Well 2 things I will be letting you know about my Journey, I will be researching and letting you know what I have found out. I will provide a Forex Calendar for your review.
Any way lets get started and we will see how it turns out.
Craig Keegan
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