Forex Trading Signal 08/04/08

Crazy Cat · (#1 (**permalink**))

Hi there my Forex friend

Hi-Quality Preview/Review:
1) 8-4-2008r-p1.swf

Long-term Outlook:
2) 8-4-2008outlook.swf

Let's first review what happened on Friday.

German retail sales came out lower but not low enough to enter a trade.

At 8:30 a.m. U.S. Non-Farm Payroll came out also very close to expectations, and we have a conflicting data between employment and unemployment data. The price action was very choppy.

At 10:00 a.m. we had U.S. ISM Non-Manufacturing which came out at 50 versus 49 expected. There was some initial reaction on this number but the price reversed very quickly.

Let's talk about Monday.

1. Monday, August 4th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Core PCE m/m coming out which is expected to come out at 0.2. If this deviates by 0.2, this may move market but we may see a vary fast retracement. We will also have Personal Spending coming out at 0.4 and Personal Income coming out at -0.2. A 0.5 deviation on them should move the market well. Higher number would be good for the dollar, and lower number would be bad for the dollar. In order to enter a trade, you want to see both deviating the same direction. Because we need to have all the numbers in line to enter a trade, I don't recommend using Secret News Weapon for this. If all of them deviates same direction, USD/JPY may move 40 pips but again this is not tradable with SNW.

On Tuesday right after midnight (12:30 a.m. NY time) we will have Australian Interest Rate. We will send a separate text email for Tuesday but since this report comes out so early, it is included on today's video signal.

That would be all for Monday.

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.

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