Hey folks,
Keeping it short and simple tonight. We saw a bit of two way action with some pullbacks in most of the markets we watch on Monday. My best guess is we get a bit more 2-way consolidation as stocks gather steam for another surge higher and the Euro decides whether it's ready to top out for good. Pretty much everything from my weekly outlook yesterday still applies. For news Tuesday:
1000 US Conference Board Consumer Confidence (48 expected) - This indicator has really come alive over the last year or so to be very tradable. Typically a good surprise will push stocks which in turn will fuel follow-through on currencies as well. I actually think a pretty tight deviation of about 2 will produce some decent price action. As usual, a larger surprise will be more reliable and push things further though.
If it comes out at 50 or higher, EUR/JPY should rally 40+ pips
If it comes out at 46 or lower, EUR/JPY should sell off 40+ pips.
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
Keeping it short and simple tonight. We saw a bit of two way action with some pullbacks in most of the markets we watch on Monday. My best guess is we get a bit more 2-way consolidation as stocks gather steam for another surge higher and the Euro decides whether it's ready to top out for good. Pretty much everything from my weekly outlook yesterday still applies. For news Tuesday:
1000 US Conference Board Consumer Confidence (48 expected) - This indicator has really come alive over the last year or so to be very tradable. Typically a good surprise will push stocks which in turn will fuel follow-through on currencies as well. I actually think a pretty tight deviation of about 2 will produce some decent price action. As usual, a larger surprise will be more reliable and push things further though.
If it comes out at 50 or higher, EUR/JPY should rally 40+ pips
If it comes out at 46 or lower, EUR/JPY should sell off 40+ pips.
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