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Forex Trading Signal 02/04/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Feb 4, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
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    Hey folks,

    Here is the video:
    02-04-2009.swf

    Nothing to review from Tuesday, let's preview Wednesday:

    0430 UK Services PMI (40.3 exp) - This has been a surprisingly reliable trade so I think we can afford to trade tighter triggers.
    If it comes out at 41.5 or higher, GBP/USD should go up by 35-50 pips.
    If it comes out at 39.0 or lower, GBP/USD should go down by 35-50 pips.

    0815 US ADP Employment Change (-535K exp) - This one really got the markets moving last month in a very firm direction that was good not only for a scalp/swing, but also for a position trade we've enjoyed. We can't expect quite as much from it this month, but it still should give a good trade with a decent enough surprise.
    If it comes out at -475K or higher, it should be good for a quick USD/JPY long, or a more medium term EUR/JPY long.
    If it comes out at -694K or lower, it should be good for a quick USD/JPY short, or a more medium term EUR/JPY short.

    1000 US ISM Non-Manufacturing (39.0 exp) - No triggers for this one because I recommend trading AGAINST a short term spike as it is unlikely to hold on with this forgotten indicator. If there is a decent surprise and the market reacts with a somewhat sharp move in that first minute or two, play a reversal and try to cash in on a run back to prerelease and potentially well beyond if you're patient and the market has the will to go there.

    1645 NZ Employment Change q/q (-0.7 exp) - This one's great for a quick SNW type spike trade, but probably not good for much reliable after spike activity.
    If it comes out at -0.2% or higher, NZD/USD should spike up by 30 pips.
    If it comes out at -1.2% or lower, NZD/USD should spike down by 30 pips.

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