Hi there 
Here is the video:
03-20-2009.swf
As I spoke about in yesterday's video, our biases that were largely technical and sentiment-based were really flipped onto their backs with the Fed's action Wednesday, and we're still in wait and see mode since a retracement seems emminent in several markets. Chances are that the overall trend has changed, but we're due for a pullback and should be patient in getting in. At least that's the way I'm playing it to cover my shorts and consider longs on Gold, US Stocks, and the EUR/USD. CAD news yesterday whipsawed around a lot and probably muffed up any seemingly decent scalping opportunities we talked about, and the Philly Fed unfortunately didn't come out high enough to warrant a EUR/USD buy. For today's news, we have 1 number:
0830 CAD Headline Retail Sales m/m (1.0% expected) - Deviations from nominal to very large alike have only really been able to move USD/CAD about 30 pips or so on this news item, so don't hold your breath for a ton more without some help from gold, or a favorable USD swing helping you break further. Please watch the video for more details.
If it comes out at 1.5% or higher, USD/CAD should weaken by 30 pips.
If it comes out at 0.5% or lower, USD/CAD should strengthen by 30 pips.
Make sure the Core number agrees with the headline to ensure the direction works out.
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:
03-20-2009.swf
As I spoke about in yesterday's video, our biases that were largely technical and sentiment-based were really flipped onto their backs with the Fed's action Wednesday, and we're still in wait and see mode since a retracement seems emminent in several markets. Chances are that the overall trend has changed, but we're due for a pullback and should be patient in getting in. At least that's the way I'm playing it to cover my shorts and consider longs on Gold, US Stocks, and the EUR/USD. CAD news yesterday whipsawed around a lot and probably muffed up any seemingly decent scalping opportunities we talked about, and the Philly Fed unfortunately didn't come out high enough to warrant a EUR/USD buy. For today's news, we have 1 number:
0830 CAD Headline Retail Sales m/m (1.0% expected) - Deviations from nominal to very large alike have only really been able to move USD/CAD about 30 pips or so on this news item, so don't hold your breath for a ton more without some help from gold, or a favorable USD swing helping you break further. Please watch the video for more details.
If it comes out at 1.5% or higher, USD/CAD should weaken by 30 pips.
If it comes out at 0.5% or lower, USD/CAD should strengthen by 30 pips.
Make sure the Core number agrees with the headline to ensure the direction works out.
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
