Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey folks,
We saw some fairly encouraging signs that we are indeed topping out in currencies. EUR/USD continued lower without too much of a pullback as did EUR/JPY. I'm expecting further downside continuation as the week develops.
In stocks however, we saw a resilient day that ended with a small push higher. This makes the odds of a turn a bit narrower, but it's still worth sticking with the short no matter what your timeframe, at least as long as 1085 holds. Again, the turn lower should be soon, so I'll definitely have more on this tomorrow either way.
In news Monday, we saw UK GDP come out as expected, so there was no trade there. In news Tuesday:
0430 UK CPI y/y (3.2% expected) - This report is usually best played just for a short term move. Lately even 0.2-0.3 deviations have only mounted temporary 35-50 pip moves.
If it comes out at 3.4% or higher, GBP/USD should rally 40 pips
If it comes out at 3.0% or lower, GBP/USD should fall 40 pips
0500 German ZEW Economic Sentiment (25.3 expected) - On a large deviation of 10 or more, this trade is usually good for at least 30 pips.
If it comes out at 35 or higher, EUR/USD should rally 30+ pips.
If it comes out at 15 or lower, EUR/USD should fall 30+ pips.
1845 NZ Retail Sales (0.5% expected) - This trade has done decently well scoring 30-50 pip moves on moderate deviations. Most of the move seems to come in the first few minutes.
If it comes out at 1.1% or higher, NZD/USD should rally 30+ pips.
If it comes out at -0.1% or lower, NZD/USD should fall 30+ pips
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com
To our success!
Sir Pipsalot
We saw some fairly encouraging signs that we are indeed topping out in currencies. EUR/USD continued lower without too much of a pullback as did EUR/JPY. I'm expecting further downside continuation as the week develops.
In stocks however, we saw a resilient day that ended with a small push higher. This makes the odds of a turn a bit narrower, but it's still worth sticking with the short no matter what your timeframe, at least as long as 1085 holds. Again, the turn lower should be soon, so I'll definitely have more on this tomorrow either way.
In news Monday, we saw UK GDP come out as expected, so there was no trade there. In news Tuesday:
0430 UK CPI y/y (3.2% expected) - This report is usually best played just for a short term move. Lately even 0.2-0.3 deviations have only mounted temporary 35-50 pip moves.
If it comes out at 3.4% or higher, GBP/USD should rally 40 pips
If it comes out at 3.0% or lower, GBP/USD should fall 40 pips
0500 German ZEW Economic Sentiment (25.3 expected) - On a large deviation of 10 or more, this trade is usually good for at least 30 pips.
If it comes out at 35 or higher, EUR/USD should rally 30+ pips.
If it comes out at 15 or lower, EUR/USD should fall 30+ pips.
1845 NZ Retail Sales (0.5% expected) - This trade has done decently well scoring 30-50 pip moves on moderate deviations. Most of the move seems to come in the first few minutes.
If it comes out at 1.1% or higher, NZD/USD should rally 30+ pips.
If it comes out at -0.1% or lower, NZD/USD should fall 30+ pips
That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at sirpipsalot@profitmongers.com
To our success!
Sir Pipsalot