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Forex Signal (Tue, May 04, 10:00 EST) US Pending Home Sales

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 3, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat writing.

    On Tuesday, May 04th at 10:00 am New York Time we will have US Pending Home Sales coming out. It is expected to come out at 3.1. Last month it came out at 8.2.

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

    Last month it was no better (although it was released when most European countries had a banking holiday):
    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: http://www.forexpeacearmy.com/forex...-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 Pending Home Sales m/m

    So my call is a no trade although if you like to take a risk, you may try to use 8 trigger and grab maybe 10 pips or so. With 8 deviation, USD/JPY may move 20 pips max.

    -Crazy Cat
     
    #1 Crazy Cat, May 3, 2010
    Lasted edited by : Sep 8, 2016
  2. onshore

    onshore Private, 1st Class

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