No trades triggered. All orders closed at 17:00 EST as per instructions.
Trade Update: 2007-01-30 10:41
It’s been a snoozer of a day for USD/CHF as the pair remained in a 40 pip range since the beginning of the Euro session. Consumer Confidence report came out pretty much inline at 110.3 versus the consensus of 110.0 So, basically no surprise, which means no volatility. We will keep our trade orders open until the end of the trading day at 17:00 EST.
Trade Idea: 2007-01-29 23:17
As we all know, we have an action packed week with a barrage of US reports including an FOMC statement, GDP, ISM survey, Non-Farm Payrolls, etc. Traders have been sideline up to this point getting ready for this week, so the markets have been pretty quiet. This may continue up until Wednesday, so we will look for range bound plays until then.
Tonight’s “Pick” is a range play on USD/CHF. We do have event risk tomorrow with the Consumer confidence report, in which the consensus is higher at 110.0 on lower gas prices, a bullish stock market, and strong economic data. This may bring enough volatility to trigger our long or short position, especially with any surprises to the consensus. We may even see movement before that during the Euro trading session as traders continue to position themselves for this week’s reports. Here are a couple of trade ideas:
Good luck and good trading!