The US dollar rose against most rivals in European trading today after being in dire straits the previous couple of trading sessions. Forex traders are assessing the weak European data as well as the US weekly jobless claims and home sales data. They are most probably also reassessing the FOMC statement issued yesterday (particularly its first paragraph).
EUR/USD is currently trading at 1.3320
Earlier I forgot to mention that my TP (111.60) was hit, so there’s a profit of 94 pips.
It’s 11:57am (GMT). Lost 29 pips on this trade.
In European trading, the US dollar fell against both the euro and the yen, and was unchanged against the British pound. The loonie is stuck in a tight 20-pip range around 1.0300.
Fed rate decision will be made public at 06:15pm GMT.
It’s 05:49am (GMT) and I just sold some USD/CAD betting on loonie strength. We’ve got Canadian CPI numbers coming out later today (11am GMT), a few inside bars on the H4 chart, as well. Hopefully, the pair will break out on the downside.
Sold at 1.0291
SL: As per trading plan
Target: Open
Here’s the 4-hour chart:
An amazing article! A must-read if you care to know what’s the current state of affairs in the land where democracy was invented:
http://www.vanityfair.com/business/features/2010/10/greeks-bearing-bonds-201010
