Forex Trading Signal 02/26/09

Crazy Cat

Former FPA Special Consultant
Hey folks,

Here is the video:

Yesterday's UK GDP hit the q/q deviation barely, but the y/y number did not come in lower along with it, so it was not a strong enough surprise to push the GBP up by very much... only about 20 pips before a selloff. The US Existing Home Sales just barely snugged up to our EUR/JPY sell trigger level, and caused a very nice, slow and steady 75 pip selloff on the EUR/JPY. For tomorrow:

0200 UK Nationwide House Prices m/m (-1.3% expected) - the 2am open might mix things up a little bit, so look to hold it for at least 2-5 minutes if it hits a trigger.
If it comes out at -0.3% or higher, I'd look to go long GBP/USD looking for 40 pips up
If it comes out at -2.3% or lower, I'd look to go short on GBP/USD looking for 40 pips down

0830 US Core Durable Goods and 1000 US New Home Sales are somewhat shaky indicators that could provide some technical opportunities, but I wouldn't trust the actual news suprises terribly much, so I recommend just looking for some technical trades around those news events... maybe a reversal trade or something.

In the video I also provide some updates on the EUR/USD and stocks, so be sure to take a look.

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

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