Recap: Quite a jump in the EU this morning as the Euro summit produced a better than expected outcome (expectations were basically that nothing would happen) - basically that Euro banks would have quicker access to funds and a plan to form a banking committee. Whether or not that rally sticks is the question - we don't expect it will long term as risk appetite is still low among market players, which means anti-Euro.
We stayed flat yesterday, as promised, as we didn't see an S/R line that was worth risking our equity on.
All and all it was very solid week for us in PRO and a stellar day for AUDUSD yesterday. It was the stud of the group, pulling in 134 pips off of two different positions. There might be some downtime this weekend as we rollout a new interface for both the free signal / discussion and the PRO dashboard. We also just wanted to say a big THANKS to all our PipHutters out there - it is you all, the community, who makes PipHut a site worth visiting. Thank you!!!
Today's Important News Events:
|12:30||USD Personal Consumption Expenditure Core (YoY) (MAY)||1.8%||1.9%|
|13:55||USD U. of Michigan Confidence (JUN F)||74.1||74.1|
|*To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar.|
Trading Idea: Entering the weekend we will stay flat (as we always do on Fridays). We are bullish in the short term after the rally but bearish in the medium term.