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.: 04-03-2008.swf
Let's review what happened on Wednesday.
We had just only U.S. ADP Employment coming out. It was expected it would come out at -45K. However, it came out slightly above 0K which was a positive surprise. USD/JPY moved by 46 pips in a few first minutes. We definitely had some good price action here. Eventually it went even higher.
We also had Bernanke speaking but I decided to sit on my hands and not to trade it. Watch the video for more details.
Let's talk about Thursday.
1. Thursday, April 3rd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Services PMI. It is expected to come out at 53.3. I would consider about 1.2 deviation. If it comes out at 54.5, I would buy GBP/USD, looking for 35 to 40 pips of a price action. If it comes out at 52 or lower, I would sell GBP/USD and I would also look for 35 to 40 pips of a price action. This report should perform much better than the UK Manufacturing PMI.
2. Thursday, April 3rd, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Initial Jobless Claims coming out. It is expected to come out at 366K. I would trade around 15K deviation. If it comes around 350K or lower, it would be less unemployment so it would be good for the U.S. dollar, and I would buy USD/JPY, looking for about 35 pips. If it comes out at 380K or higher, that would be bad for the U.S. dollar and I would sell USD/JPY and expect a move of 35 pips or so.
3. Thursday, April 3rd, 2008 (10:00 a.m. New York Time) USA
At 10.00 a.m. we will have U.S. ISM Non-Manufacturing Composite coming out. This indicator used to be not tradable at all but now it is a very good, tradable indicator. I would expect a good move if it deviates over 1.2. It is expected to come out at 48.8 so if it comes out at 50.0 or higher, it would be a pretty good buy signal on USD/JPY. On the other hand, if it comes out at 46.5 or lower, it would be a good sell signal on USD/JPY. If either trigger is hit, I would expect a 40 pips price action here.
4. Thursday, April 3rd, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Retails Sales m/m coming out. It is expected to come out at 0.3%. I would use 0.4 trigger on this one. If it comes out at 0.7% or higher, it would be a good buy signal on AUD/USD or AUD/JPY. If it comes out at -0.1% or more negative, it would be a good selling opportunity on AUD/USD or AUD/JPY. Make a good judgment right before the report if you want to trade AUD/USD or AUD/JPY. If either trigger is hit, I would expect about 40 pips move.
That's all for tomorrow. AS ALWAYS, there is more stuff on the video so if you have a moment, I encourage you to watch it.
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.: 04-03-2008.swf
Let's review what happened on Wednesday.
We had just only U.S. ADP Employment coming out. It was expected it would come out at -45K. However, it came out slightly above 0K which was a positive surprise. USD/JPY moved by 46 pips in a few first minutes. We definitely had some good price action here. Eventually it went even higher.
We also had Bernanke speaking but I decided to sit on my hands and not to trade it. Watch the video for more details.
Let's talk about Thursday.
1. Thursday, April 3rd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Services PMI. It is expected to come out at 53.3. I would consider about 1.2 deviation. If it comes out at 54.5, I would buy GBP/USD, looking for 35 to 40 pips of a price action. If it comes out at 52 or lower, I would sell GBP/USD and I would also look for 35 to 40 pips of a price action. This report should perform much better than the UK Manufacturing PMI.
2. Thursday, April 3rd, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Initial Jobless Claims coming out. It is expected to come out at 366K. I would trade around 15K deviation. If it comes around 350K or lower, it would be less unemployment so it would be good for the U.S. dollar, and I would buy USD/JPY, looking for about 35 pips. If it comes out at 380K or higher, that would be bad for the U.S. dollar and I would sell USD/JPY and expect a move of 35 pips or so.
3. Thursday, April 3rd, 2008 (10:00 a.m. New York Time) USA
At 10.00 a.m. we will have U.S. ISM Non-Manufacturing Composite coming out. This indicator used to be not tradable at all but now it is a very good, tradable indicator. I would expect a good move if it deviates over 1.2. It is expected to come out at 48.8 so if it comes out at 50.0 or higher, it would be a pretty good buy signal on USD/JPY. On the other hand, if it comes out at 46.5 or lower, it would be a good sell signal on USD/JPY. If either trigger is hit, I would expect a 40 pips price action here.
4. Thursday, April 3rd, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Retails Sales m/m coming out. It is expected to come out at 0.3%. I would use 0.4 trigger on this one. If it comes out at 0.7% or higher, it would be a good buy signal on AUD/USD or AUD/JPY. If it comes out at -0.1% or more negative, it would be a good selling opportunity on AUD/USD or AUD/JPY. Make a good judgment right before the report if you want to trade AUD/USD or AUD/JPY. If either trigger is hit, I would expect about 40 pips move.
That's all for tomorrow. AS ALWAYS, there is more stuff on the video so if you have a moment, I encourage you to watch it.
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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