Forex waiting on US data in the morning

October 13, 2005 by Trader Rich 

I’ve been watching the majors this evening and the movement has
mostly been against the USD.   I’m waiting for the US data in
the morning which includes September CPI, September Retail Sales,
September Industrial Production, August Business Inventories, and the
October Michigan Sentiment survey.  That’s quite a lot of market
moving data.  We’ll see if the USD can break through those support
and resistance levels. 

I had a bad trading week and I’m
still stuck in my USD/JPY Short Position at 114.02.  This evening,
the Yen made a move as low as 114.36 but that was about all it could
muster.  The USD/JPY currently trades at 114.55.   

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