Hey folks,
Here is the video:
02-20-2009.swf
Yesterday, I noticed EUR/NOK made a HUGE move on Norwegian quarterly GDP, so I might be on the lookout to trade that out of Sweden and Norway next time around. US PPI came in 0.3% higher than expected pretty much across the board, and after some wiggling lower, the EUR/USD did make a nice upmove as predicted on a postive deviation. The Philly Fed came in abysmally low and we saw nice, steady declines for 75-130 pips in EUR/USD, GBP/USD, GBP/JPY, and EUR/JPY; however, USD/JPY saw only muted reaction. Equity markets continue their protracted weakness as I've been calling for for quite some time. The DJIA just closed at 7465 below it's November 21st intraday lows. The S&P 500 should be next. I'm expecting a further breakdown in the S&P down into the 600's, so I'm continuing to hold my shorts/put options and maintain a downwards bias on EUR/USD, but I'm mindful that the EUR/USD down move is maturing and I may want to look for an exit on the position trade short at some point in the next week or so. I'll let you know in the videos. For tomorrow:
0430 UK Retail Sales (-0.1% expected) - This report has come out higher than expectations for awhile, and even in a downtrend has been able to manage a nice little rally. I expect some weakness heading into the number and possibly throughout the early european session.
If it comes out at +0.6% or higher, look to go long on GBP/USD looking for 40+ pips
If it comes out at -0.8% or lower, look to short GBP/USD for a quick 30-40 pips, or trade the volatility and look for a reversal opportunity to go long for a scalp or swing reversal especially if it bottoms at key support and the USD is starting to weaken on other pairs.
0700 CAD Core CPI m/m (-0.1 expected) - A bit of a goldilocks plan here.
If it comes out at 0.0 or 0.1, look to short USD/CAD for 30-40 pips but expect some volatility
If it comes out at -0.3 or worse, or it comes out at +0.3 or higher, look to go long on USD/CAD looking for 30-40 pips or more
0830 US Core CPI m/m (+0.1% expected) - Modified golilocks plan here with a hands off approach if it comes out very high.
If it comes out at 0.1% or 0.2%, look to go long EUR/USD but it's initial 1 minute move may be a bit lower, so look to take advantage of that if possible.
If it comes out at -0.1% or lower, look to get short on EUR/USD, but it's initial 1 min move may be a bit higher, so look to take advantage of that if possible
On all of these numbers, be careful of conflicts as described in the video.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
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 and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
Here is the video:
02-20-2009.swf
Yesterday, I noticed EUR/NOK made a HUGE move on Norwegian quarterly GDP, so I might be on the lookout to trade that out of Sweden and Norway next time around. US PPI came in 0.3% higher than expected pretty much across the board, and after some wiggling lower, the EUR/USD did make a nice upmove as predicted on a postive deviation. The Philly Fed came in abysmally low and we saw nice, steady declines for 75-130 pips in EUR/USD, GBP/USD, GBP/JPY, and EUR/JPY; however, USD/JPY saw only muted reaction. Equity markets continue their protracted weakness as I've been calling for for quite some time. The DJIA just closed at 7465 below it's November 21st intraday lows. The S&P 500 should be next. I'm expecting a further breakdown in the S&P down into the 600's, so I'm continuing to hold my shorts/put options and maintain a downwards bias on EUR/USD, but I'm mindful that the EUR/USD down move is maturing and I may want to look for an exit on the position trade short at some point in the next week or so. I'll let you know in the videos. For tomorrow:
0430 UK Retail Sales (-0.1% expected) - This report has come out higher than expectations for awhile, and even in a downtrend has been able to manage a nice little rally. I expect some weakness heading into the number and possibly throughout the early european session.
If it comes out at +0.6% or higher, look to go long on GBP/USD looking for 40+ pips
If it comes out at -0.8% or lower, look to short GBP/USD for a quick 30-40 pips, or trade the volatility and look for a reversal opportunity to go long for a scalp or swing reversal especially if it bottoms at key support and the USD is starting to weaken on other pairs.
0700 CAD Core CPI m/m (-0.1 expected) - A bit of a goldilocks plan here.
If it comes out at 0.0 or 0.1, look to short USD/CAD for 30-40 pips but expect some volatility
If it comes out at -0.3 or worse, or it comes out at +0.3 or higher, look to go long on USD/CAD looking for 30-40 pips or more
0830 US Core CPI m/m (+0.1% expected) - Modified golilocks plan here with a hands off approach if it comes out very high.
If it comes out at 0.1% or 0.2%, look to go long EUR/USD but it's initial 1 minute move may be a bit lower, so look to take advantage of that if possible.
If it comes out at -0.1% or lower, look to get short on EUR/USD, but it's initial 1 min move may be a bit higher, so look to take advantage of that if possible
On all of these numbers, be careful of conflicts as described in the video.
TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
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 and take advantage of this offer. This offer is for NEW customers only.
To our success,
Sir Pipsalot
