Hi there
Here is the video:
03-17-2009.swf
Yesterdays news we were purposefully not trading since it the market was bound to shrug it off, and that was indeed the case with the US Empire State Manufacturing Survey which came in about 8 below expectations but only saw a 10 pip fakeout on EU and UJ. Tomorrow though there are some better opportunities:
0600 German
ZEW Economic Sentiment (-8 expected) - Try to wait for a good retracement on this one before getting in since it's made a habit of doing that lately.
If it comes out at 2 or higher, EUR/USD should go up by 20-40 pips.
If it comes out at -18 or lower, EUR/USD should go down by 20-40 pips.
0830 US Core
PPI m/m (0.1% expected) - There are 3 other PPI numbers coming out, so look for some agreement there. This trade should work on EUR/USD, USD/JPY and EUR/JPY in the same directions, but one or more of those pairs might not be set up ideally for a certain direction heading into the news... here's my best guess as to how it should be played based on the varying inflation vs deflation theme:
If it comes out at 0.4% or higher, try buying a 10-30 pip quick dip lower on the EUR/JPY and look for 40+ pips of profit.
If it comes out at -0.2% or lower, try selling a 10-20 pip quick
spike higher on the USD/JPY and look for 30+ pips of profit.
On a side note, watch out for a higher than expected US Housing starts at the same time. A bad number will likely get ignored, but a much better number will get more attention and lead to buying pressure.
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Forex Trading Signal 03/17/09 -
03-17-2009, 05:27 AM
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