Forex Trading Signal 01/06/09

Crazy Cat

Former FPA Special Consultant
Hello everyone,

There's a good flow of news today which I break down along with some insight on our long running EU short position that's doing quite nicely. I highly recommend watching today's video as always.

Here is the video:

At 02:00 We're getting UK Nationwide House prices. A 0.8% deviation here might affect the GBP but I'm not going to recommend trading this one as I don't have a lot of faith in it especially with a european open release time.

04:30 UK Services PMI expected at 39.0, 2.0 deviation should be good for 30-50 pips on GBP/USD, GBP/CHF and/or GBP/JPY. It's been doing well the past couple of months.
If it comes out at 41 or higher, GBP/USD should go up by 30-50 pips in the first 20 minutes of the report
If it comes out at 37 or lower, GBP/USD should go down by 30-50 pips in the first 20 minutes of the report

10:00 US ISM Non-Manufacturing expected at 36.5, I'm willing to trade a 2.5 deviation even though this indicator has been muted because ISM Manufacturing did so well last Friday.
If it comes out at 39 or higher, USD/JPY should go up by 30-40 pips in the first half hour
If it comes out at 34 or lower, USD/JPY should go down by 30-40 pips in the first half hour

14:00 US FOMC Meeting Minutes. This is too complicated to preview so far in advance, but expect some currency volatility, particularly on the EUR/USD and based on what comes out in the release and the market sentiment at the time.

19:30 AU Retail Sales Trend - I've lost faith in this indicator for now, so I'm waiting for it to come back in favor before we start trading it again.

Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.

To our success,
Sir Pipsalot
Last edited:

Mark Harding

video gold

More video gold from SP - best trader, best teacher. There are only really two types of trades : SP trades, and anti-SP trades. Just lost 30 pips on an anti-SP trade, but I'm up 300 on an SP trade - it ain't rocket science ! I always find it hard to enter in the direction of a breakout, so I just grit my teeth and did it. Missing all you guys in the room, but very happy to still have this level of contact. Thanks again as always SP - Happy New Year !