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.
HI-res.: 03-26-2008.swf
Let's review Tuesday first.
We just had one report coming out and that was Canadian Retail Sales. We were focused on the headline number which deviated by 0.1. Since we were looking for 0.6 deviation, it was a no trade. The core retail sales had a huge deviation, causing some price action but this move retraced very fast. Overall the price moved about 40 pips but it would be tough to make any money on it. Watch the video for more details.
Let's talk about Wednesday.
1. Wednesday, March 26th, 2008 (5:00 a.m. New York Time) GERMANY, EURO ZONE
At 5 a.m. we will have German IFO coming out. If I traded it, I would focus on the business climate index. It is expected to come out at 103.5. I don't recommend to trade this one; however, if you really want to trade it, you can try to use 1.5 trigger on this. If it comes out at 105.0 or higher, you should see some buying pressure on the EUR/USD. If it comes out at 102 or lower, you should see some selling pressure on EUR/USD.
2. Wednesday, March 26th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Durable Goods Core coming out (also known as X Transportation). The Core number is expected to come out at -0.3%, and I would recommend to use a trigger of 2.0 - it should be a nice, solid trigger. If it comes out at 1.7% or higher, I would buy USD/JPY and look for 35 pips of a price action. If it comes out at -2.3% or lower (more negative), that would be a pretty bad number, and I would sell USD/JPY and look for 35 pips as well. Ideally, you want to see both, the core and headline, deviating in the same direction. Also, like on the recent Canadian report, if one of them is barely deviating, you can place a trade but consider getting out pretty quickly.
3. Wednesday, March 26th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have New Home Sales coming out. It is expected to come out at 578 K. I would be a little bit more aggressive on the buy side here. If it comes out at 625 K or higher, that would be worth buying the USD/JPY, looking for about 40 pips of a price action. If it comes out at 500 K or lower, that should be disappointing enough to sell USD/JPY and look for 40 pips of a price action as well.
That's all for tomorrow. As always, watch the video for additional details.
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.
HI-res.: 03-26-2008.swf
Let's review Tuesday first.
We just had one report coming out and that was Canadian Retail Sales. We were focused on the headline number which deviated by 0.1. Since we were looking for 0.6 deviation, it was a no trade. The core retail sales had a huge deviation, causing some price action but this move retraced very fast. Overall the price moved about 40 pips but it would be tough to make any money on it. Watch the video for more details.
Let's talk about Wednesday.
1. Wednesday, March 26th, 2008 (5:00 a.m. New York Time) GERMANY, EURO ZONE
At 5 a.m. we will have German IFO coming out. If I traded it, I would focus on the business climate index. It is expected to come out at 103.5. I don't recommend to trade this one; however, if you really want to trade it, you can try to use 1.5 trigger on this. If it comes out at 105.0 or higher, you should see some buying pressure on the EUR/USD. If it comes out at 102 or lower, you should see some selling pressure on EUR/USD.
2. Wednesday, March 26th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Durable Goods Core coming out (also known as X Transportation). The Core number is expected to come out at -0.3%, and I would recommend to use a trigger of 2.0 - it should be a nice, solid trigger. If it comes out at 1.7% or higher, I would buy USD/JPY and look for 35 pips of a price action. If it comes out at -2.3% or lower (more negative), that would be a pretty bad number, and I would sell USD/JPY and look for 35 pips as well. Ideally, you want to see both, the core and headline, deviating in the same direction. Also, like on the recent Canadian report, if one of them is barely deviating, you can place a trade but consider getting out pretty quickly.
3. Wednesday, March 26th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have New Home Sales coming out. It is expected to come out at 578 K. I would be a little bit more aggressive on the buy side here. If it comes out at 625 K or higher, that would be worth buying the USD/JPY, looking for about 40 pips of a price action. If it comes out at 500 K or lower, that should be disappointing enough to sell USD/JPY and look for 40 pips of a price action as well.
That's all for tomorrow. As always, watch the video for additional details.
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
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