Hey folks,
Here is the link:
03-24-2009.swf
Yesterday's Existing Home Sales produced some nice profitable action whether you held it for a bit or held out for a larger rally on the EUR/JPY, so some reassuring action there even if I expected a larger move a bit faster. Geitner's plan which had the media and stocks swooning I believe really has a lot of holes and potential problems, and even if it works great, it won't hit the market for many months... so I expect a lot of this Geitner plan euphoria to fizzle out and reverse stocks lower and maybe give the EUR/USD and EUR/JPY a good chance to sell off sharply. I'm still biased towards long term EUR/USD weakness, so I think these elevated levels are an excellent place to look for shorts. The Fed's action last week is already losing major steam in the Treasury markets, and this could possibly spread towards USD strength either today or sometime in the near future. My EUR/USD short bias is not without risk... I could definitely be wrong, no doubt; however, if I'm right, the potential rewards far outweigh the risk and it's worth taking a closer look at. I go into a lot of detail on this and other things on the video, so take a look. Stocks I forgot to put in early, so I brought them up at the end. For tomorrow's economic news, there's only one item:
0530 EST - UK CPI y/y headline (2.6% expected) - If this comes out a bit higher (but not too high) it's definitely worth a long since that lowers deflationary fears. If it comes out low, it should be a nice sell as those deflationary fears get a big bump.
If it comes out betweeen 2.7% and 3.0%, GBP/USD should rise by at least 30 pips and potentially more like 50+ if the pair is positioned well.
If it comes out 2.5% or lower, GBP/USD should sell off by at least 30 pips and potentially more like 50+ if the pair is positioned well for a sell.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
Here is the link:
03-24-2009.swf
Yesterday's Existing Home Sales produced some nice profitable action whether you held it for a bit or held out for a larger rally on the EUR/JPY, so some reassuring action there even if I expected a larger move a bit faster. Geitner's plan which had the media and stocks swooning I believe really has a lot of holes and potential problems, and even if it works great, it won't hit the market for many months... so I expect a lot of this Geitner plan euphoria to fizzle out and reverse stocks lower and maybe give the EUR/USD and EUR/JPY a good chance to sell off sharply. I'm still biased towards long term EUR/USD weakness, so I think these elevated levels are an excellent place to look for shorts. The Fed's action last week is already losing major steam in the Treasury markets, and this could possibly spread towards USD strength either today or sometime in the near future. My EUR/USD short bias is not without risk... I could definitely be wrong, no doubt; however, if I'm right, the potential rewards far outweigh the risk and it's worth taking a closer look at. I go into a lot of detail on this and other things on the video, so take a look. Stocks I forgot to put in early, so I brought them up at the end. For tomorrow's economic news, there's only one item:
0530 EST - UK CPI y/y headline (2.6% expected) - If this comes out a bit higher (but not too high) it's definitely worth a long since that lowers deflationary fears. If it comes out low, it should be a nice sell as those deflationary fears get a big bump.
If it comes out betweeen 2.7% and 3.0%, GBP/USD should rise by at least 30 pips and potentially more like 50+ if the pair is positioned well.
If it comes out 2.5% or lower, GBP/USD should sell off by at least 30 pips and potentially more like 50+ if the pair is positioned well for a sell.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
