Forex Signal (Mon, April 05, 10:00 EST) US Pending Home Sales

[Crazy Cat]

Hi there

This is Crazy Cat writing.

On Monday, April 05th at 10:00 am New York Time we will have US Pending Home Sales coming out. It is expected to come out at -1. Last month it came out at -7.6.

This is a very weak report to trade. Recently, it failed to move in a few occasions. Even last month when it came out at -7.6 vs 1 expected, it produced a very random price action:
Forex news trading currency exchange charts

Also, this Monday is a bank holiday in most European countries as well as in Canada. So expect a very thin volume.

We will also have US ISM Non-Manufacturing coming out. This is also unreliable indicator to trade. Last month a deviation of +2 did almost nothing, and then the price reversed.
Forex news trading currency exchange charts

If you like, you can still read what this indicator means and how it affects the US dollar by going to this link: https://www.forexpeacearmy.com/fore...-descriptions/7328-us-pending-home-sales.html

It is always good to check how these reports performed in the past:
Forex News Trading | Details and History for USD ISM Non-Manufacturing Composite
Forex News Trading | Details and History for USD Pending Home Sales m/m

So my call is a no trade, especially that Monday is a national holiday in most major countries. Enjoy the break if you are lucky enough to live in such countries...
-Crazy Cat

 

[lotfi]

explain more


good evening
thanks for help but
do u advice to enter sell usd or buy at the time of report

 

[shij421]

he did recommend a no trade

 

[lotfi]

ok u on right
but if i want to
what should i do

 

[West Coast Pips]

If you must trade a weak set of reports tomorrow morning (ISM Non-Manufacturing PMI & Pending Home Sales m/m) then use a piece of software called Secret News Weapon. As Crazy Cat has said, don't trade this. Stay away from reports that can lose you money.

 

[M.Nazri]

Thank you sir Corporal and Crazy Cat.....
i understand no trade and GO HOLIDAY....hehehehehe

 

[omo9ja]

Thanks crazy cat, lets leave today's trade for a better time.

 

[Crazy Cat]

good evening
thanks for help but
do u advice to enter sell usd or buy at the time of report

my advice is to stay away as this one is very unreliable. I prefer not to trade than lose money. We will have a few good reports this week that, if deviate, should bring nice money.

 

[pipreaper]

It's better to miss a 'good' trade - than to be stuck in a bad trade

 

[OYEYEMI]

Thanks crazy cat, lets leave today's trade for a better time.

omonja i wish i could know you am also a trader i nja. e-mail me oyeyemyinka_2007@y