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Forex Trading Signal 02/26/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Feb 26, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
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    Hey folks,

    Here is the video:
    02-26-2009.swf

    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.

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    Sir Pipsalot




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