Forex Trading Signal 07/23/08

Crazy Cat · (#1 (**permalink**))

Hi there my Forex friend

Hi-Quality Preview/Review:
1) 7-23-2008r-p.swf

Long-term Outlook:
2) 7-23-2008outlook.swf

Let's talk about Tuesday first.

Canadian Retail Sales came out lower than expected but not low enough to enter a trade. No trade here.

Then we had Australian CPI which came out higher but not high enough to enter a trade. There was some price reaction but not enough to make a good money. No trade here.

Let's talk about Wednesday.

1. Wednesday, July 23rd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have BOE and the vote is expected 8:1 for no change. If you are new in Forex, don't trade it. If you want to trade it, watch the video.

2. Wednesday, July 23rd, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian CPI Core m/m which is expected to come out at 0.1%. If it comes out at 0.3% or higher, I would sell USD/CAD and look for 40 pips move. If it comes out at -0.1% or lower, I would buy USD/CAD and expect 40 pips as well. Bank of Canada may react on higher inflation so I think this may create more long term move.

3. Wednesday, July 23rd, 2008 (5:00 p.m. New York Time) NEW ZEALAND
At 5:00 p.m. we will have Interest Rate statement out of New Zealand. It is expected they will hold the rates at 8.25%. If it comes out at 8.00% or lower, I would sell NZD/USD and look for 50 pips price action. If they hike the rates, I would buy NZD/USD and expect 50 pips move. If they hold the rates at 8.25%, NZD/USD may go up a little and you may want to scalp a few pips but be extremely careful.

PLEASE ALSO WATCH Sir Pip's longer term outlook videos, links are always provided at the beginning of this post. A lot of people found them very useful. If you have any comments regarding that videos, please leave a comment. Sir Pips is working hard to improve our free tools so more and more people can benefit from them.

If you are interested more in trading news, go to Forex Diamonds - News Trading Education 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