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Forex Trading Signal 02/05/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Feb 5, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
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    Hey folks,

    Here is the video:
    02-05-2009.swf

    Yesterday's UK Services PMI did in fact come out 2 minutes early, so the upside on the better than expected number was a little more confused and muted, but still made 20 pips. The ADP number came out too close to expected, but still gave a EUR/JPY rally since it wasn't abysmal. Lastly, the big surprise was the nice rally we got after the much better than expected ISM Non Manufacturing number, good for 50 pips on USD/JPY. It definitely worked better than I thought it would.

    For tomorrow:

    0700 UK Interest Rate Decision (0.50% cut to 1.00% expected)
    If it comes out at 0.75% or lower, look to buy GBP/USD after an initial sell-off (see video for details)
    If it comes out at 1.25% or higher, look to sell GBP/USD after an initial rally (see video for details)

    0745 ECB Interest Rate Decision (no change, 2.00% expected)
    If it comes out at 1.75% or lower, look for a short term sell on EUR/USD for about 30-40 pips.

    0830 ECB Trichet Speech - No real way to preview this one and do it justice. Suffice to say that we'll be looking for hints about how aggressive the ECB might want to be with their March meeting.

    I got very ambitious with some major calls on stocks, yen crosses, gold, silver and markets as a whole in the latter parts of the video. It's DEFINTIELY worth a watch tonight.

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