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Forex Trading Signal 01/10/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jan 10, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    This is Sir Pips.

    If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.


    HI-res.: 01-10-2008.swf

    Let's first review what happened yesterday.

    The U.S. Pending Home Sales came out too close to expectations so it was a no trade.

    Australian Retail Sales deviated by 0.3 and unfortunately we missed our trigger of 0.4. There was a decent price action but it did not hit our trigger so it was a no trade.

    We also had no trades on Wednesday.

    Let's now talk about Thursday.

    1. Thursday, January 10th, 2008 (4:30 a.m. New York Time) UK
    Tomorrow we will have the UK Trade Balance coming out at 4:30 a.m. This indicator used to perform quite well but last 3 times it failed with 700 M or even 900 M trigger as the price action went the other way. If you want to trade this, use 1000 M (1 B) deviation. Therefore, if it comes out at -8200 M or more negative, that would be weakening the pound and I would look to sell GBP/USD and expect 30 pips move price action to the downside on the GBP/USD. On the other hand, if it comes out at -6200 M or less negative, then it would be positive for the U.S. pound and I would expect to see 30 to 40 pips move price action to the upside on the GBP/USD.

    2. Thursday, January 10th, 2008 (7:00 a.m. New York Time) UK
    At 7 a.m. we will have UK Interest Statement coming out. It is expected they will hold the rate at 5.5% because they just cut rates recently. There is also 20% to 25% economists expecting them to cut the rate. Here is what I am going to do: if they keep the rates unchanged, I would probably stay away although it can be strengthening the pound a little bit. If they cut the rates, I would sell GBP/USD or GBP/JPY and expect 50 pips or more and 100 pips or more in the first hour, respectively.

    3. Thursday, January 10th, 2008 (7:45 a.m. New York Time) EURO ZONE
    Then at 7:45 a.m. we will have Euro Zone Interest Rate Statement. It is unanimously expected they will hold the rates at 4.00%. If they hike the rates to 4.25%, you can buy EUR/USD and expect 50 pips or more price action in the first hour. If they cut the rates to 3.75% I would sell EUR/USD and expect 50 to 100 pips or more move to the downside.

    4a. Thursday, January 10th, 2008 (8:30 a.m. New York Time) EURO ZONE
    At 8:30 a.m. we will have a few things coming out at the same time. We will have Trichet speaking but if you want to trade what he is speaking, you need to be a little bit more advanced trader and be able to listen to his tone. If he uses the "strong vigilance" phrase it is usually very bullish and you want to buy EUR/USD. Selling EUR/USD is a bit more problematic and you really need to be more advanced trader to trade his speeches.

    4b. Thursday, January 10th, 2008 (8:30 a.m. New York Time) CANADA
    At 8:30 a.m. we will have Canadian Building Permits. It is expected to come out at -1.7%. Recently, building indicators out of several major countries started moving the market so we can try to trade this indicator with 5.0 trigger. Therefore, if it comes out at -6.7% or more negative, I would buy USD/CAD and expect 30 pips pips price action. If it comes out at 3.3% or higher, I would sell USD/CAD, and expect 30 pips price action. Last two months this indicator worked very well so it is time to start focusing on it.

    4c. Thursday, January 10th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we also have U.S. Unemployment Claims. It is expected to come out at 345 K. Usually, a 20K trigger is sufficient to trade and you can expect 25 pips price action on USD/JPY if the trigger is hit. Therefore, if it comes out at 365 K or higher, it would be bad for the U.S. dollar so I would sell USD/JPY. If it comes out at 325 K or lower, it would be good for the U.S. dollar and I would buy USD/JPY.
    ***EDIT*** I see that the consensus value for Initial Jobless Claims has shifted down from 345K to 340K, so shift buy USD/JPY trigger to 320K or lower, and sell USD/JPY trigger to 360K or higher.

    5. Thursday, January 10th, 2008 (8:30 a.m. New York Time) USA
    At 1 p.m. we will have Bernanke speech. This also is for more advanced traders so if you are new in trading fundamentals, I would stay away. Keep an eye on some possible interesting price actions at 1 p.m.

    That would be all for Thursday.

    If news trading seems to be very interesting for you, then I suggest you to go to Forex Diamonds - News Trading Education and read everything about this service. It is a live trading service I provide with Felix, and I will be able to show you exactly what I am doing as I am leading hundreds of traders just like you every day with very clear strategies on when to get in and get out. As people are following my trades, they are learning how to trade the news, feel comfortable with trading and make good profits. We offer 21 days free trial so you can just try it and see how you like it.

    Thank you very much, and good luck with your trades.

    To Our Success!
    -Sir Pipsalot
     
    #1 Crazy Cat, Jan 10, 2008
    Lasted edited by : Aug 15, 2015
  2. revrobwimb

    revrobwimb Recruit

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    New Years Special?

    Hey Felix, Sir Pips, Crazy Cat...

    I've been waiting to see if there will be a New Years Package offer for SNW, Diamonds, & King Forex Signals...

    Anything forthcoming? I would sure like to sign up for a triple package.

    Thanks in advance for a quick reply.

    revrobwimb
     
  3. Dubaidat

    Dubaidat Recruit

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    New Member

    Hello friends,

    I have just joined this forum and would like to say that it looks like a excellent forum to be a member of.

    Dubaidat
     
  4. luka81

    luka81 Recruit

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    Hi!
    I have just joined your forum.Hope it will help me boost my profits...
     

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