Forex Signal (Tue, April 20, 05:00 am EST) German ZEW

[Crazy Cat]

Hi there

This is Crazy Cat writing.

On Tuesday, April 20th (5:00 am New York Time) we will have German ZEW Economic Sentiment coming out. It is expected to read 45.2. Last month it read 44.5.

In addition to ZEW Economic Sentiment, we will also have ZEW Current Situation Index coming out. It's not so important, and it almost never conflicts with the main report. If it does conflict, then stay out of the trade.

Please read what this indicator means and how it affects the EUR/JPY by going to this link: https://www.forexpeacearmy.com/fore...tions/7441-german-zew-economic-sentiment.html

The trigger for this indicator is 6. This means that if ZEW Economic Sentiment comes out at 51.2 or higher, EUR/JPY will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 39.2 or lower, EUR/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.

Recently this indicator did not perform well so that's why I use such big deviation. Most likely it will be a no trade.

Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

If you miss the initial spike, don't worry, you can still make money on the after-spike move. Click here to read the after-spike retracement strategy for this report: https://www.forexpeacearmy.com/fore...ntiment-after-spike-retracement-strategy.html

For example: on August 18th, German ZEW Sentiment came out at 56.1, versus an expectation of 45. It was a great money making opportunity. See for yourself what happened on this chart: Forex news trading currency exchange charts

You can study the entire history and charts of this report by following this link: Forex News Trading | Details and History for GER ZEW Economic Sentiment

Currently it is a very weak report to trade so feel free to skip it.

I hope you make some money on this report

Thanks,
Crazy Cat

 

[darkhorse]

Please could you explain what the trigger 6 means
thanks

 

[West Coast Pips]

Please could you explain what the trigger 6 means
thanks

ZEW stands for 'Zentrum für Europäische Wirtschaftsforschung' and is a German indicator. The ZEW Indicator of Economic Sentiment is ascertained monthly. Up to 350 financial experts take part in the survey. The indicator reflects the difference between the share of analysts that are optimistic and the share of analysts that are pessimistic for the expected economic development in Germany in six months. The survey also asks for the expectations for the Euro-zone, Japan, Great Britain and the U.S.A.

The 'trigger' has been suggested as a minimum of 6. The expected number for this release tomorrow morning is 45.2. If the number comes out 51.2 (or over) it is seen as good of the Euro. If it comes out less than 39.2 (or less) it is bad for the Euro. The trigger of 6 has been chosen because that is what works for this release.

All tradable news releases have triggers when looking at trading them as soon as they come out. The trigger os 6 for this report has just been shown to work.

 

[Mikec]

24 PiPs by my charts, too quick for me as a newbie to this method to jump on board, but good call

 

[Lucas Gremista]

i lost money in this report

 

[Agent86]

Nice Call on Good For EUR

Hi all

I'm a technical trader mostly but I've also started testing my strategy along side the signals

Today as Crazy Cat predicted with ZEW over 51.2 is Good for the EUR - right on

Consider the 5min EUR/USD chart

Since I only trade the EUR/USD this was right on the money.

There was a 25pip spike, but also if you would have drawn your fib tool you could also see the very next candle was a bullish engulfing candle for a very tight risk of 6 pips = -1 pips just below the bullish engulfing candle - for 27 pip gain to hit our fib target.

With these bullish candles during news I don't count the spike but only the full bodied candles, so it's not a true bullish candle but I've deviated from the true candle during news releases and it works quit well.

Anyhow, still tight stop of 6 pips for 27 pips reward

Thanks for the signal

P.S too bad I can't wake up that early to trade that signal LOL