Hi my dear Trader 
If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.
Part 1 - HI-res.: 03-04-2008review.swf
Part 2 - Hi res.: 03-04-2008preview.swf
Let's first review what happened earlier today.
The UK Manufacturing PMI came out close to expectations so simply it was a no trade.
Canadian GDP came out very low; it deviated by -0.5. In 2+ years the highest deviation I ever saw was 0.3 and even it did not happen too often. Logically thinking, it should be an easy trade (and indeed it was for SNW users if they were filled) but for the afterspike it was pretty hard one. The price moved really fast, not giving much time to enter the trade after the spike. To make it worse, it retraced completely. Watch the video for more details.
U.S. ISM Manufacturing came out close to expectations so it was no trade. USD/JPY managed to move pretty well, a quite weird price action.
Australian Retail Sales gave us a sell signal. We got -0.5 deviation here. The price did not move as much as I expected it would move but at least it moved neatly. The price moved 25 pips down, then we had about 50% retracement, and then it moved even lower. There was some opportunity to make a good money here.
Then we had Australian Interest Rate. They hiked the rates from 7.00 to 7.25% as expected. The commentary was pretty neutral here. Based on my signal, it was a no trade.
The video signal has much more details so I encourage you to watch both of them.
Let's talk about tomorrow.
1. Tuesday, March 4th, 2008 (1:45 a.m. New York Time) SWITZERLAND
At 1:45 a.m. we will have Swiss GDP q/q and CPI m/m coming out at the same time. Usually I use 0.2 deviation on both of them. Because there are coming at the same time, it is hard to say which one is going to pull the market more. Last time they were released together, the GDP came out 0.1 better than expected and the CPI came out 0.3 better than expected. However, we just had 10 pips move and the price action was frozen for 30 minutes before eventually it hit our targets. This is a type of trade where you need to be patient about it or just let it go. I would enter the trade if they both came out at the same direction AND *either* both of them deviating by 0.2 *OR* one of them deviating by 0.3 without a conflict with the other one. If we see 0.8% or higher on GDP q/q, assuming there is no conflict, it would be OK to sell USD/CHF or GBP/CHF. If we see 0.3% or lower on the GDP q/q I would buy USD/CHF or GBP/CHF. If the CPI comes out at 0.4% or more, I would sell USD/CHF or GBP/CHF, and if the CPI m/m comes out at 0% or lower, I would buy USD/CHF or GBP/CHF. If the trigger is hit, I would look for 30 pips of a price action in the first hour of the report. DO NOT rush here.
2. Tuesday, March 4th, 2008 (9:00 a.m. New York Time) CANADA
Then at 9:00 a.m. we will have Canadian Interest Rate statement coming out. It is expected they will cut the rates from 4.00% to 3.75% or to 3.50%. According to Bloomberg, 13 economists expect them to cut by 25 bp whereas the other 13 expect them to cut by 50 bp. We should get a trade signal no matter what comes out. If they keep the rates unchanged, I would short (sell) USD/CAD; if they cut rates by 25 bp, it would also be speculative sell on USD/CAD; if they cut by 50 bp, then it should be a buy signal on USD/CAD or EUR/CAD can be traded too. Expect about 45 pips of a price action, maybe even more.
3. Tuesday, March 4th, 2008 (7:30 p.m. New York Time) AUSTRALIA
At 7:30 p.m. we will have Australian GDP q/q coming out. It is expected to come out at 0.6%. If it comes out at 0.9% or higher, I would go long on AUD/USD and expect 45 pips of price action. If it comes out at 0.3% or lower, I would sell AUD/ USD, looking for about 45 pips of price action as well. I prefer sell signal on this report.
It is going to be busy day.
That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link.
If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.
Part 1 - HI-res.: 03-04-2008review.swf
Part 2 - Hi res.: 03-04-2008preview.swf
Let's first review what happened earlier today.
The UK Manufacturing PMI came out close to expectations so simply it was a no trade.
Canadian GDP came out very low; it deviated by -0.5. In 2+ years the highest deviation I ever saw was 0.3 and even it did not happen too often. Logically thinking, it should be an easy trade (and indeed it was for SNW users if they were filled) but for the afterspike it was pretty hard one. The price moved really fast, not giving much time to enter the trade after the spike. To make it worse, it retraced completely. Watch the video for more details.
U.S. ISM Manufacturing came out close to expectations so it was no trade. USD/JPY managed to move pretty well, a quite weird price action.
Australian Retail Sales gave us a sell signal. We got -0.5 deviation here. The price did not move as much as I expected it would move but at least it moved neatly. The price moved 25 pips down, then we had about 50% retracement, and then it moved even lower. There was some opportunity to make a good money here.
Then we had Australian Interest Rate. They hiked the rates from 7.00 to 7.25% as expected. The commentary was pretty neutral here. Based on my signal, it was a no trade.
The video signal has much more details so I encourage you to watch both of them.
Let's talk about tomorrow.
1. Tuesday, March 4th, 2008 (1:45 a.m. New York Time) SWITZERLAND
At 1:45 a.m. we will have Swiss GDP q/q and CPI m/m coming out at the same time. Usually I use 0.2 deviation on both of them. Because there are coming at the same time, it is hard to say which one is going to pull the market more. Last time they were released together, the GDP came out 0.1 better than expected and the CPI came out 0.3 better than expected. However, we just had 10 pips move and the price action was frozen for 30 minutes before eventually it hit our targets. This is a type of trade where you need to be patient about it or just let it go. I would enter the trade if they both came out at the same direction AND *either* both of them deviating by 0.2 *OR* one of them deviating by 0.3 without a conflict with the other one. If we see 0.8% or higher on GDP q/q, assuming there is no conflict, it would be OK to sell USD/CHF or GBP/CHF. If we see 0.3% or lower on the GDP q/q I would buy USD/CHF or GBP/CHF. If the CPI comes out at 0.4% or more, I would sell USD/CHF or GBP/CHF, and if the CPI m/m comes out at 0% or lower, I would buy USD/CHF or GBP/CHF. If the trigger is hit, I would look for 30 pips of a price action in the first hour of the report. DO NOT rush here.
2. Tuesday, March 4th, 2008 (9:00 a.m. New York Time) CANADA
Then at 9:00 a.m. we will have Canadian Interest Rate statement coming out. It is expected they will cut the rates from 4.00% to 3.75% or to 3.50%. According to Bloomberg, 13 economists expect them to cut by 25 bp whereas the other 13 expect them to cut by 50 bp. We should get a trade signal no matter what comes out. If they keep the rates unchanged, I would short (sell) USD/CAD; if they cut rates by 25 bp, it would also be speculative sell on USD/CAD; if they cut by 50 bp, then it should be a buy signal on USD/CAD or EUR/CAD can be traded too. Expect about 45 pips of a price action, maybe even more.
3. Tuesday, March 4th, 2008 (7:30 p.m. New York Time) AUSTRALIA
At 7:30 p.m. we will have Australian GDP q/q coming out. It is expected to come out at 0.6%. If it comes out at 0.9% or higher, I would go long on AUD/USD and expect 45 pips of price action. If it comes out at 0.3% or lower, I would sell AUD/ USD, looking for about 45 pips of price action as well. I prefer sell signal on this report.
It is going to be busy day.
That's all for tomorrow. As always, you can watch more detailed signal by clicking on the video link.
If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
