Interest Rate Decision

We have UK rate decision today so I will not be trading today. The expectation is to leave it unchanged at 5.75%. We also have Trichet mumbling a few words of wisdom so beware.

I was stopped out at break even on my day position of NZDJPY yesterday but I reopened my short position again and am now 100 pips in profit although I have scaled out and now have a tight stop on. I will revisit this currency in the near future.

Dont forget we have the NFP and prior to that release we can sometimes spot Vega breakout. Look for the opportunity.

If you are unaware of NFP results and other news items then sign up for the free 7 day trial at http://www.tradethenews.com/freetrial.asp?fxcps You will need to do this today to be in time for tomorrows NFP. A strategy you could possibly use for NFP is my US Open but beware of moves greater than 50 pips before 2pm.

Enjoy your day.