There were several important reports this week, and some major surprises that could really have an impact on certain currencies Another week has passed by, and there are definitely a lot of major economic reports of note, as well as some news stories that traders will definitely want to keep their eyes on. While a few weeks ago it seemed like EU intervention would help prevent Greece from collapsing and causing a domino effect, the opposite almost seems true now. Not only has Greece's debt been downgraded to "junk," but other fringe nations like Spain and Portugal have had their debt security level downgraded due to fear of what appears more and more to be an oncoming domino effect. This is a major concern to pay attention to, as shockwaves in Europe aren't going to be restrained only to the EU, but they're going to spread to other economies, as well. This is a story that should get serious attention from traders.

In other news, United States home prices in February rose for the first time since the end of 2006 according to the Standard & Poor's Price Index. While these numbers were weak, it at least shows some degree of recovery continuing along the sluggish housing market.

There were many other major reports of note this week, and while some countries were certainly busier than others, there are reports here that should be of interest to almost any Forex trader. So keep an eye on those fundamental reports, and without any further wait, here is the newest installment of the week in review.

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Buy Entry: 1.3279 StopLoss: 1.3249 TakeProfit: 1.3289

Forex Profit Alerts: April 29, 2010 We have one SquishSquash trade going, one pending Target Breakout trade, and two Trend Finder trade pending.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pending long trade. The GBP/USD has a long pending pivot trade. There is a short pending pivot trade in the USD/CHF.

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Buy Entry: 1.3267 StopLoss: 1.3237 TakeProfit: 1.3277

Forex Profit Alerts: April 28, 2010 We have one SquishSquash trade going, one pending Target Breakout trade, and one Trend Finder trade pending.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pending long trade. The GBP/USD has a long pending pivot trade. There is a short pending pivot trade in the USD/CHF.

Forex Profit Alerts: April 27, 2010 We have one SquishSquash trade going and one pending Target Breakout trade.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pending long trade. The GBP/USD has a pending short trade and a long pending pivot trade. There is a short pending pivot trade in the USD/CHF.

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Sell Entry: 1.3290 StopLoss: 1.3320 TakeProfit: 1.3280

Forex Profit Alerts: April 26, 2010 We have one SquishSquash trade going, two pending Target Breakout trade, and one Trend Finder trade going.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pending long trade. The GBP/USD has a pending short trade and a long pending pivot trade. There is a short pending pivot trade in the USD/CHF.

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Buy Entry: 1.3400 StopLoss: 1.3370 TakeProfit: 1.3410

Forex Profit Alerts: April 25, 2010 We have one SquishSquash trade going, one pending Target Breakout trade, and one Trend Finder trade pending.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, CorrGap trade going, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pending long trade. The GBP/USD has a pending short trade and a long pending pivot trade. There is a short pending pivot trade in the USD/CHF.

The EUR/USD gapped down triggering a gap trade. The USD/CHF gapped up triggering a gap trade.

While all in all it was a fairly quiet week, there are plenty of things to be keeping an eye on Overall this week was rather quiet on both the general economic news front, as well as with the Forex economic reports. However with a market as liquid and constantly moving as the Forex, any news is important to someone trading currencies. Some of the major stories in the news this week revolve around surprising results from two companies, some good economic reports, Greece's woes continuing, and Mother Nature making cab drivers in Oslo, Norway, very happy. Microsoft's profits jumped 35% with the rebound of the PC, while Amazon gave an amazing 68% increase in profits. Overall economic reports show that in the United Sates home sales jump up while overall jobless claims have fallen.

Greece's debt situation has been revised, showing that they are in even worse shape than previously thought. The debt situation there is really a major concern, and could really affect the European Union. As for the Oslo, Norway, reference, the volcano ash that is still hovering over Europe still has air travel grounded. This isn't only affecting airlines, but restaurants, stores, hotels, and other transportation options. Several stories of movie stars stranded in Oslo have resulted in multiple cab rides costing thousands of Euros, including John Cleese's $5,100 Euro cab ride from Oslo to Brussels. Hope he tipped well.

Anyway, with that information in the books let's kick off this week's short installment of the week in review.

Forex Profit Alerts: April 22, 2010 We have one SquishSquash trade going and one pending trade , one pending Target Breakout trade, and one Trend Finder trade pending.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pending long trade. The GBP/USD has a pending short trade and a long pending pivot trade. There is a short pending pivot trade in the USD/CHF.

All four of the major pairs gapped up triggering gap trades in all of them.

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Sell Entry: 1.3357 StopLoss: 1.3387 TakeProfit: 1.3347

Forex Profit Alerts: April 21, 2010 We have one SquishSquash trade going and one pending trade , one pending Target Breakout trade, and one Trend Finder trade pending.

We also have a CorrSnapBack pending trade, one pending CorrEscape trade, and one CorrTrend trade going.

The USD/JPY has a pending short pivot trade and a pending long trade. The EUR/USD has a pivot short trade and a pending long trade. The GBP/USD has a pending short trade and a long pending pivot trade. There is a short pending pivot trade and a pending long trade in the USD/CHF.

All four of the major pairs gapped up triggering gap trades in all of them.

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Sell Entry: 1.3415 StopLoss: 1.3445 TakeProfit: 1.3405