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QUOTE=Crazy Cat;7819]Hi there my Forex friend
Preview/Review on YouTube:
Hi-Quality Preview/Review:
[url=http://homepage.mac.com/matwoj/fpa/7-1-2008R-P.html]7-1-2008R-P.swf[/media]
Long-term Outlook:
[url=http://homepage.mac.com/matwoj/fpa/7-1-2008LTflwup.html]7-1-2008LTflwup.swf[/media]
Let's first review what happened earlier today.
Canadian GDP came out too close to expectations so it was a no trade. The market almost did not react.
Chicago PMI came out very close to expectations too.
Let's talk about Tuesday then.
1. Tuesday, July 1st, 2008 (12:30 a.m. New York Time) AUSTRALIA
At 12:30 a.m. we will have Australian Interest Rate statement. It is expected they will hold the rates at 7.25% but there is a little chance we will get a surprise here. If they hike the rates t 7.50%, it would be a buy signal on AUD/USD, good for 75 to 100 pips or so. If they cut the rates, I would sell AUD/USD and look for the same targets.
2a. Tuesday, July 1st, 2008 (2:00 a.m. New York Time) UK
At 2:00 a.m. we will have U.K. Nationwide House Prices m/m. It is expected to come out at -1 and I would use 0.5 trigger here. Two months ago it deviated by -0.6 and we saw good 35 pips move down (and eventually 55 pips) on GBP/USD but the other month we had -2.0 trigger and GBP/USD by 25 pips or so. This might be a good scalping opportunity. If it comes out at -1.5% or lower (more negative), I would sell GBP/USD and look for 30 pips price action. If it comes out at -0.5% or less negative (or positive), I would buy GBP/USD and look for 30 pips or so.
2b. Tuesday, July 1st, 2008 (2:00 a.m. New York Time) GERMANY, EURO ZONE
Also at 2:00 a.m. we will have German Retail Sales m/m. I would like to trade with with around 1.2 trigger. If it comes out at 2.0% or higher, you may buy EUR/USD and look for 30 pips move. If it comes out at -0.5% or lower, I would sell EUR/USD and look for 30 pips move as well. Last month with -2.3 deviation EUR/USD made 50 pips.
3. Tuesday, July 1st, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Manufacturing PMI coming out. I would not trade it.
4. Tuesday, July 1st, 2008 (2:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Manufacturing Index coming out. It is expected to come out at 48.5, and I would use 1.2 trigger here. If it comes out at 49.7 or higher, I would buy USD/JPY; if it comes out at 47.5 or lower, I would sell USD/JPY, looking for 30 pips or more in the first 30 minutes. Usually this indicator moves USD/JPY very well but last month we had only 20 pips move.
5. Tuesday, July 1st, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Retail Sales coming out. This might not be a killer trade because of the interest rate statement we would have nearly a day earlier but it might be worthy to give a try. It is expected to come out at 0.1%. If it comes out at 0.4% or higher, I would buy AUD/USD and look for 30 to 40 pips move. If it comes out at -0.2% or more negative, I would sell AUD/USD and look for 30 to 40 pips move as well.
I also encourage you to watch a special video where Sir PIps is talking about long term trading. The link is provided at the beginning of this post.
That's all for Tuesday.
If you are interested more in trading news, go to [url=http://www.forexdiamonds.com]Forex Diamonds - News Trading Education[/media] where Sir Pips or Magister Pips are trading all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. They post trade plans and talk about the trades as well as they 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. Worst case scenario, you will learn something and get all your money back.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot & Crazy Cat
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat[/quote]
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