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Forex Trading Signal 03/11/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 11, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi my dear Trader :)

    If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.



    HI-res.: 03-11-2008.swf

    Let's first review what happened on Monday.

    The Norway underline CPI y/y came out at 2.2% versus 1.9% expected, and m/m 1.0% versus 0.6% expected. The headline numbers came out as expected. We got a good sell signal and the market moved by about 500 pips although it was tough to make any money on the afterspike.

    At 5:30 a.m. EST we had UK PPI and Industrial Production. The Industrial Production came out too close to expectations to enter any trade so officially it was a no trade. The price action was very confusing so it was better to stay out.

    At 8.01 p.m. EST we had UK RICS House Price Balance. The number came out pretty well; however, I had recommended not trading it and it was a good idea to stay out. Nothing interesting here at all.

    Let's now talk about tomorrow.

    1. Tuesday, March 11th, 2008 (4:30 a.m. New York Time) SWEDEN
    At 4:30 a.m. we will have Swedish CPI coming out. It is a very similar situation to yesterday's Norway CPI - your primary focus should be on the underline inflation. The underline y/y inflation is expected to come out at 3.3%, and the m/m is expected to come out at 0.5%. The headline number y/y is expected to come out at 3.2% and the m/m at 0.6%. If the CPI underline y/y comes out at 2.5% or higher, I would sell USD/SEK or EUR/SEK. If it comes out at 1.9% or lower, I would buy USD/SEK or EUR/SEK. I would prefer to trade EUR/SEK but if you don't have it, then try to trade USD/SEK. If the trigger is hit, I would expect about 400 pips move on this. If you are not able to trade this report with your broker, don't worry - we have so many other good reports every single month.

    2. Tuesday, March 11th, 2008 (6:00 a.m. New York Time) GERMANY
    At 6:00 a.m. we will have German ZEW coming out. I will skip this one as it was not tradable recently. Last month with a good deviation the price moved only by 12 pips.

    3. Tuesday, March 11th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have U.S. and Canadian trade balance coming out. As of right now, the Canadian Trade Balance is expected to come out at 2.6 B. I would use 1.0 trigger on this. If it comes out at 3.6 B or higher, I would sell USD/CAD. If it comes out at 1.6 B or lower, I would buy USD/CAD. U.S. Trade Balance is expected to come out at -59.5 B. I don't think the U.S. indicator is tradable so I would just focus on the Canadian trade balance; however, watch out for the U.S. indicator and avoid any big conflicts here.

    That's all for tomorrow.

    If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.

    Thank you and good luck with your trades.

    To Our Success!
    -Sir Pipsalot



    The video with the signal is recorded by Sir Pipsalot.
    For your convenience, this text is written based on the video by Crazy Cat
     
    #1 Crazy Cat, Mar 11, 2008
    Lasted edited by : Aug 15, 2015
  2. samatkins

    samatkins Recruit

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    Hi guys,

    Can someone tell me of a broker that offer these currencies USD/SEK, EUR/SEK,USD/NOK EUR/NOK etc on their platform? my broker does not carry these pair.

    thanks in advance.
     
    #2 samatkins, Mar 11, 2008
    Last edited: Mar 11, 2008
  3. Pharaoh

    Pharaoh 1st Lieutenant

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    Oanda has 3 of the 4 you mention (had to sneak a look at my wife's account - I don't trade with Oanda myself).
     
  4. samatkins

    samatkins Recruit

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    Thanks pharaoh i checked it out. gosh the spead on them is huge 50pips!
    i wonder if it is wise trading these pairs with that much spread?
     
    #4 samatkins, Mar 11, 2008
    Last edited: Mar 11, 2008
  5. Pharaoh

    Pharaoh 1st Lieutenant

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    I know Felix likes MB Trading. I'm not sure about CC and Sir Pips. I took a quick look and couldn't find the listing of pairs they carry, but it's got to be in there somewhere if you want to dig for it.
     
  6. samatkins

    samatkins Recruit

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    what do you mean by MB trading? sorry i'm new to this forum ligo.
     
  7. Pharaoh

    Pharaoh 1st Lieutenant

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    MB Trading is another forex brokerage. Click on Reviews up at the top of this page and you can see a lot of wildly varying opinions on a number of brokerages.
     

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