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Big Week Ahead

Discussion in 'General Forex Talk' started by Ricex, Feb 28, 2010.

  1. Ricex

    Ricex Sergeant

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    Hi,
    this first week of March should provide some very exciting trading as we have a lot of potential big move announcements coming out.

    I don't trade news per se and fundamentals in general don't effect my trading strategy which is all price action based and chart structure recognition. I trade what I see in front of my eyes even if German Ifo has just gone up 1.2 points, it really doesn't concern me, and they only effect the market for short periods if at all in my opinion.....but

    there is one type of announcement which I do make sure I'm aware of as it can potentialy make a difference in the market and that is interest rate changes and this week we have 4.

    TUESDAY: Aussie rate, last month they took the conservative route, and against expectations, kept the rate the same @ 3.75%. This time round I reckon they'll go for it and whack it up to 4%, but do check the history of this event before trading as these things are not always so black & white.

    Same day it's the turn of the Bank of Canada but this will probably be a non event, but we could get some momentum going after the banks statement has been digested and disected.

    THURSDAY: it's the weather beaten Pound and Euro to make their calls. I'm not expecting any changes in the rate, who would dare? but it will be the bla bla bla that goes out with it that could make for some interesting action.

    FRIDAY: it's NFP......... nuff said.

    Hope you all make some goodly pipage this week. :)
     
  2. Forexwatchman

    Forexwatchman Sergeant

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    You are correct about this week being a "Big Week" because the tone thus far has been very dull and mixed between Europe and U.S. economies. I said this 2 weeks ago on my website, but felt it appropriate to bring up here once again "I predict that a nice gain of jobs in the Non-Farm Payrolls could push the EUR/USD off the cliff. It could basically shape up to be a win-win situation in two weeks when the report is released: a rise will of course show a strong American economy and send the dollar up, but weakness will also trigger more risk aversion behavior – the dollar rises as well." This isn't my way of saying "You should buy up dollars come Friday" but it is an educated/interseting analysis of what we've been seeing so far in the markets. Good luck to you this week!
     
  3. Ricex

    Ricex Sergeant

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    So the BoA went for it, but what a reaction from the market. 35 odd pip swing up and down followed by no clear direction..... this 9000 level is holding strong for the moment.

    You would have to have been pretty hot on the button if you were trading that last night.
     

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