Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
As far as the trend is concerned, we're still right on the edge so to speak as we were yesterday. A day of USD weakness and stock strength above Monday's highs will likely force us into loss-minimization mode on our long term trades and bias, but we've seen some encouraging action as well, so we'll wait and see what things look like tomorrow. Please refer to recent signals for more information on what we're looking for in trends on EUR/USD, Gold, Silver, and Stocks.
In news Tuesday we saw UK GDP and US Consumer Confidence come out too close to expected to illicit a clear trade. In news Wednesday:
0815 US ADP Employment Change (-200K expected) - If there's a nice surprise here, I think we'll see a corresponding trade on USD/JPY. It might not be a ton of price action quickly, but a good fill should see some profits creep in.
If it comes out at -120K or higher, USD/JPY should rally 30-40 pips.
If it comes out at -280K or lower, USD/JPY should sell off 30-40 pips.
0830 US GDP 2Q final (-1.2% expected) - We should see a decent market reaction on US GDP figures, but every now and then market will just completely ignore GDP numbers because they're old news (expecially with these final revision releases). So if you're trading this and you see a lot of hesitation short of your targets, don't be terribly patient with it... just get out.
If it comes out at -0.8% or higher, USD/JPY should rally 30-40 pips.
If it comes out at -1.6% or lower, USD/JPY should sell off 30-40 pips.
As far as the trend is concerned, we're still right on the edge so to speak as we were yesterday. A day of USD weakness and stock strength above Monday's highs will likely force us into loss-minimization mode on our long term trades and bias, but we've seen some encouraging action as well, so we'll wait and see what things look like tomorrow. Please refer to recent signals for more information on what we're looking for in trends on EUR/USD, Gold, Silver, and Stocks.
In news Tuesday we saw UK GDP and US Consumer Confidence come out too close to expected to illicit a clear trade. In news Wednesday:
0815 US ADP Employment Change (-200K expected) - If there's a nice surprise here, I think we'll see a corresponding trade on USD/JPY. It might not be a ton of price action quickly, but a good fill should see some profits creep in.
If it comes out at -120K or higher, USD/JPY should rally 30-40 pips.
If it comes out at -280K or lower, USD/JPY should sell off 30-40 pips.
0830 US GDP 2Q final (-1.2% expected) - We should see a decent market reaction on US GDP figures, but every now and then market will just completely ignore GDP numbers because they're old news (expecially with these final revision releases). So if you're trading this and you see a lot of hesitation short of your targets, don't be terribly patient with it... just get out.
If it comes out at -0.8% or higher, USD/JPY should rally 30-40 pips.
If it comes out at -1.6% or lower, USD/JPY should sell off 30-40 pips.
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