Forex Trading Signal 03/20/09

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.

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Sir Pipsalot

 

New Signal Format

I like the change in the format. Although I don't listen just for the charting analysis. It cool to see the action and then the cause of such action. Cool.

 

I like this new format alot. It is always good to hear someone else's opinion where they think the market is going with some kind of supporting logic.

 

Free News ??

If I want to use FPA's free daily signals to trade then I need a news source that gives me the necessary info on time before the trade...Will FPA's Free News Calendar give me the necessary info in time for the trade or are there any other free new sources I can use that will give me the info in time for the trades??? If not, what would be the cheapest news I could get that would work ok??

 

either way is good for me

 

New Format

I like the new format since we can concentrate on upcoming (long-term) trades faster without to wait to load the video until end of it. Its really helpful for non-news traders.

 

For my 2¢ worth, it cannot now be very long (no pun intended) before
we see some profit-taking in the EUR/ pairs. I don't believe it's the ECB's
possible decision to do QE in the next two months which will force down
the Euro, but traders' FEAR of that very move that will commence a sell-off.

Some major players may dump EUR before this week's trading is out.

A mini-lot short, with a stop around 0.9550 on EUR/GBP (a responsive pair
on European news) might pay for a few boxes of KFC ...

-
Chris

 

Thanks guys for the input, I'll try to run the videos long term first, news second from now on.