About Pick of the Day

Pick of the Day Author

At the end of each trading day, I will find what I believe is the best looking short term trade setup for the upcoming trading day. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. Trades will be posted by 1 am ET, Monday through Thursday evening.

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Trade Review: EUR/USD

Posted 23:05 08 June 2006 | 0

Well, the ECB raised rates 25 basis points to 2.75% and we did not see the highly unlikely raise of 50 basis points that would have caused EUR/USD to hit our entry. After the report was released we saw the dollar gain a lot of ground today, and it moved far, far away from our entry point. Oh well...on to the next trade!

No trade entered.

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Forex Blog: Pick of the Day

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