Hi there my Forex friend
Hi-Quality Preview/Review:
1)
8-5-2008r-p.swf
Long-term Outlook:
2)
8-5-2008outlook.swf
Let's first review what happened on Monday.
On 8:30 a.m. we had a bunch of U.S. reports. They were not tradable and we saw USD/JPY going down by 20 pips or so, and then it retraced by 100 %.
Australian report will be released in 20 minutes. You can watch the previous video if you want to trade it.
Let's talk about Tuesday.
At 4:30 a.m. we will have UK Industrial Production and Services PMI, coming out at the same time. Both reports can move the market but I would focus more on Services PMI. The Industrial Production used to be a good indicator but recently it did not react too much; generally Services PMI performs better now. It is expected it will come out at 46.6, and I would trade 1 deviation. If it comes out at 47.6, I would buy GBP/USD, looking for 35 pips price action. If it comes out at 45.6 or lower, it would be a sell signal on GBP/USD and I would expect 35 pips move as well. If you have a big conflict with the Industrial Production, I would stay away or exit quickly.
At 10:00 a.m. we will have U.S. ISM Non-Manufacturing coming out. It is expected to come out at 48.7. If it comes out at 50 or higher, I would buy USD/JPY and look for 30 to 40 pips price action. If it comes out at 47 or lower, I would sell USD/JPY and look for 40 pips as well.
At 2:15 p.m. we will have U.S. Interest Rate Statement. It is expected they will hold the rates unchanged so any change here would create a big move. If they raise the rates, I would sell EUR/USD and look for 50 pips move. If they cut the rates, I would buy EUR/USD and look for 50 pips move as well. As of right now it is hard to give any directions how to trade comments, it will all depend on what will happen during London and NY session.
That would be all for Tuesday.
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
Forex Trading Signal 08/05/08 -
08-05-2008, 05:14 AM
why dont you compine between the fundmental and the technical? -
08-05-2008, 12:42 PM
Linear Mode
