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: https://www.forexpeacearmy.com/fore...-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
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: https://www.forexpeacearmy.com/fore...-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
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