US Consumer Confidence Higher Than Expected, USD continue the bull run.

German CPI for matched consensus, lower German Import Prices, higher than expected French Business Confidence Indicator, all for the month of July were reported and I should say these data was marked as positive for the Euro currency. However, the market didn't take it as it should be. Instead Euro was having a tough time being bullish and the market is being indecisive 4 hours before the US Consumer Confidence is released. I was stopped on breakeven on my EUR/USD trade earlier during early London session where EUR/USD was showing weakness on declining prices due to market expectations on the US Consumer Confidence. I maintained sidelined for the first time since I started trading to observe what would be wise and unwise to do. However, US Existing Home Sales was down 1.3% to 6.62 million units for the month of June. But Richmond Fed Manufacturing Index was reported much higher than expected of 12 for the month of July versus 4 for the month of June. Add on to the USD positive data is the US Consumer Confidence which is higher than expected of 106.5 in July vs. 105.4 in June. Consensus was 104.4. This came out surprisingly that US consumer confidence is unstirred by the high consumer prices and gasoline prices that is trimming out their savings and extra pocket money that they used to have.

Temporarily for the time being, I will remain sidelined until USD reversed to negative. I missed the ride on the bullish USD due to the Consumer Confidence and I'm not going to risk taking a late ride to it. I could use this time to concentrate on my gold business that I've been planning and working on for weeks now. In near future, I might now have the time to update this blog everyday. But I'll continue to do my best analysis and improve my trading experience.