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Forex Signal (Thu, July 08, 07:00 EST) UK Interest Rate

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 7, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there :)

    This is Crazy Cat writing.

    Thursday, July 08 (07:00 am New York Time) UK

    We have UK Interest Rate coming out. It is expected to read 0.5. Last month it read 0.5 as well.

    It is highly unlikely we are going to have a signal on this report, but I remember that three or four years ago we also traded this report, and absolutely nobody expected them to hike the rates, yet they did hike the rates by 0.25%. GBP/USD moved up by over 150 pips in a matter of a minute or so.

    So, although it's 99.9% chance it will be a no trade, there is still slim chance for the rate hike.

    I recommend trading GBP/USD for this report.

    Please read what this indicator means and how it affects the GBP/USD by going to this link: http://www.forexpeacearmy.com/forex...riptions/7395-uk-interest-rate-statement.html

    The trigger for this indicator is 0.25. This means that if UK Interest Rate comes out at 0.75 or more, GBP/USD will probably go up by 100 pips or more in the first 45 minutes of the report. If it comes out at 0.25 or less, GBP/USD will probably go down by 100 pips or more in the first 45 minutes of the report.

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

    To read after-spike retracement strategy for this report click here: Diamonds Forex Trading System (Trading News After The Spike) - Forex Peace Army Forum

    For example: on November 6th, 2008, UK Interest Rate came out at 3, versus an expectation of 4. GBP/USD went down by over 150 pips in the first 4 minutes of the report. See for yourself what happened by seeing this chart: Forex news trading currency exchange charts

    I highly recommend you study the entire history and charts of this report by following this link:
    Forex News Trading | Details and History for GBP Interest Rate Statement

    Good luck,
    -Crazy Cat
    #1 Crazy Cat, Jul 7, 2010
    Lasted edited by : Sep 8, 2016
  2. Dean Lau

    Dean Lau Recruit

    Jun 20, 2010
    Likes Received:
    It's really helpful. Keep on your hard work. THanks

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