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Forex Trading Signal 03/04/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 4, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hey folks,

    Here is the video:

    Yesterday's news was interesting. CAD Int came in as expected, albeit on the low end, and we saw a USD/CAD rally. This may mean it's back to low rates being bad news and higher rates being good news in other countries as well. US Pending Home Sales was a big dud giving some downside, but not much. AUD GDP was a huge mover though on a blockbuster deviation sending AUD/USD down 50 pips in the first minute and down another 40 in the first 25. As I write this, it seems to be holding the 6330 to 6340 level and may be a good short from around here.

    For tomorrow:

    0428 or 0430 UK Services PMI m/m (-41.9 expected) - Disappointing action last month probably due to it coming out 2 minutes early, which it will probably do again this month. Keeping wider triggers just in case.
    If it comes out at -43.5 or lower, GBP/USD should fall by about 40 pips.
    If it comes out at -40.5 or higher, GBP/USD should rise by about 40 pips.

    0815 US ADP Employment Change (-630K expected) - This number has had some big trades, but I'm not so sure we're set up as close to an inflection point as we were 2 months ago. Still I expect some nice price action here. You can try trading tighter triggers and squeezing more out of a smaller move, but these triggers should be safe levels to work with.
    If it comes out at -730K or lower, USD/JPY should fall by 30-40 pips in the first 15 minutes.
    If it comes out at -520K or higher, USD/JPY should rise by 30-40 pips in the first 15 minutes.
    EUR/JPY could very well be a good alternative pair and may see better moves over the course of an hour.

    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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