Forex Trade Idea Update - 12/15/05

Well, it looks like traders are still moving into the yen, but there wasn't a retracement that brought down yen enough to trigger my trade ideas.

CPI for EU is coming out at 5:00 am EST. My next trade idea will probably be for the EURUSD. Generally I like to stay out of trades during news reports, but I'm starting to develop trading around the news as a part of my trading arsenal. I'm expecting to be lower than previous which means a lower possibility of rate hikes by the ECB. Based on this reasoning, I'll probably look to short EURUSD below the previous low of 1.1906. If I come up with stop and targets I'll update this blog. Have a good night!