Tuesday, May 1, 2007

European Session 01-05-07

A quiet trading session since nothing much was expected to happen due to labour day.

Still, I entered a long USD/JPY position at 119.62 as the price candle closed above the opening range high of 119.57. However, I had to be on the defensive side and exit the position for -3 pips due to some price bearishness seen in other USD pairs.











GBP/USD - I should have entered on this.











EUR/USD - Earlier, I have avoided shorting the Euro. It is always a good practice to observe the price correlation among the major USD pairs.

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