This was a very busy week for the major currencies, and there were some very surprising reports out there that definitely affected some currency pairs. The pace picked up a little bit this week and there were many important economic reports of note that Forex traders will want to be aware of. There was plenty of important economic news in the mainstream this week, as well. The economic recovery that the United States has been enjoying seems to be slowing dramatically, which has some economists worried. The overall economy is projected to continue growing, but at a much slower rate than before as consumers are saving more, and the high level of unemployment is also cutting down the number of consumers who can buy.

Many companies are showing healthy profits, including the once beleaguered automobile industry. Ford leads the way when it comes to dramatic turnarounds, but many other companies are also doing well. Profits are up at many companies, but until those some companies actually start hiring again, it's going to be hard to sustain a long term recovery with solid growth.

But there are many important economic reports to get to this week, so instead of spending any more time on the general news, let's jump right in to this week's installment of the week in review.

Forex Profit Alerts: July 29, 2010 There is one Squish Squash trade pending and one going. There is one pending Target Breakout trade. There is one Trend Finder trade going.

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

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

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Buy Entry: 1.3042 StopLoss: 1.3012 TakeProfit: 1.3052

Forex Profit Alerts: July 28, 2010 There are two Squish Squash trade pending. There are two pending Target Breakout trade. There is one Trend Finder trade going.

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

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

Forex Profit Alerts: July 27, 2010 There is one Squish Squash trade pending. There is one pending Target Breakout trade. There is one Trend Finder trade going.

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

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

Forex Profit Alerts: July 26, 2010 There are two Squish Squash trade pending. There are two pending Target Breakout trade. There is one Trend Finder trade going.

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

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

Bulls And Bears Indicator Moving averages have always been a super strong tool in Forex (as well as ANY set of data that you can chart), but ONLY if you use them correctly! They are by no means the "be-all-end-all" in the charting world, but even the smallest and most minute details of a moving average can really help your trading portfolio, if only you knew where to look! This week's indicator "breaks down" the angle of a moving average, and gives you some insight as to whether or not the moving average is slowing down, speeding up, etc. So many different uses for this tool, I always find some way to incorporate this particular indicator into each of my strategies...

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Buy Entry: 1.2966 StopLoss: 1.2936 TakeProfit: 1.2976

Forex Profit Alerts: July 25, 2010 There are two Squish Squash trade pending. There is one pending Target Breakout trade. There is one Trend Finder trade going.

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

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

The EUR/USD gapped down +24 pips which triggered a long gap trade.

Overall it was a very quiet week, although it can end with a huge bang depending on how the bank stress tests come out in Europe Another week has passed, and for many nations this one was one of those rare quiet times when traders actually had some time to take a breath. That could all change pending the results of the European Union's publishing of bank stress test results on Friday evening, but overall this has been a fairly quiet week in regards to releasing large economic reports that impact the Forex market. In corporate news, Ford is bouncing back nicely in the U.S. and showing profits again, and the government is selling off more of its shares of Citigroup stock. Unemployment is still a major concern, but other than a few good earnings reports it has been relatively quiet this week, so instead of stretching it out let's just jump into this week's installment of the week in review.

Forex Profit Alerts: July 22, 2010 There are two Squish Squash trade pending. There is one pending Target Breakout trade. There is one Trend Finder trade pending.

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

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

Forex Profit Alerts: July 21, 2010 There are two Squish Squash trade pending. There is one pending Target Breakout trades.

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

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

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Sell Entry: 1.2837 StopLoss: 1.2867 TakeProfit: 1.2827

Forex Profit Alerts: July 20, 2010 There is one Squish Squash trade pending. There is one pending Target Breakout trades. There is one Trend Finder trade pending.

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

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

[Forex Profit Alert] -- EURUSD Pivot 4H Pair: EURUSD Type: Sell Entry: 1.2869 StopLoss: 1.2899 TakeProfit: 1.2859