Hey Folks,
Sorry for the lack of signal late last week as I got incredibly busy and couldn't get around to finishing it. Right now gold is moving perfectly and breaking support to the downside and should sell off another $200 or so over the coming months, but Stocks and the EUR/USD remain enigmas with mixed signals pointing both up and down. What is a little more clear (that I forgot to mention in the video) is the prospect for a EUR/GBP short. With the Eastern Europe banking crisis not going anywhere, CFTC commercials increasing GBP longs, and EUR shorts and increased risk appetite that should dominate sentiment for the better part of the next 2 months, I think putting a position trade short on EUR/GBP could work out very nicely.
On Friday we saw UK PMI Services have a nice trade that hit 28 pips right away and 70 pips after a retracement, so good price action there on the higher than expected number. US Nonfarm payrolls though came out pretty close to expected, so aside from the initial (that number wasn't worse than we thought) rally, the price action was too tough to predict without getting a surprise. For Monday:
1000 CAD Ivey PMI (47 expected) - Small report that's been moving somewhat consistently lately. Oftentimes you can get in along with the trade in the first minute at a price close to prerelease as it can take a few minutes to max/min out.
If it comes out at 52 or higher, USD/CAD should rise about 30-40 pips.
If it comes out at 42 or lower, USD/CAD should fall about 30-40 pips.
This is a short week with market holidays on Friday, but one thing to look out for is a meeting on Wednesday to examine and potentially make decisions on reinstating the Uptick rule on US Equities. This is likely to be a pretty bullish event if anything comes out of it, so plan on positioning for a long either on Tuesday or early Wednesday.
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
Sorry for the lack of signal late last week as I got incredibly busy and couldn't get around to finishing it. Right now gold is moving perfectly and breaking support to the downside and should sell off another $200 or so over the coming months, but Stocks and the EUR/USD remain enigmas with mixed signals pointing both up and down. What is a little more clear (that I forgot to mention in the video) is the prospect for a EUR/GBP short. With the Eastern Europe banking crisis not going anywhere, CFTC commercials increasing GBP longs, and EUR shorts and increased risk appetite that should dominate sentiment for the better part of the next 2 months, I think putting a position trade short on EUR/GBP could work out very nicely.
On Friday we saw UK PMI Services have a nice trade that hit 28 pips right away and 70 pips after a retracement, so good price action there on the higher than expected number. US Nonfarm payrolls though came out pretty close to expected, so aside from the initial (that number wasn't worse than we thought) rally, the price action was too tough to predict without getting a surprise. For Monday:
1000 CAD Ivey PMI (47 expected) - Small report that's been moving somewhat consistently lately. Oftentimes you can get in along with the trade in the first minute at a price close to prerelease as it can take a few minutes to max/min out.
If it comes out at 52 or higher, USD/CAD should rise about 30-40 pips.
If it comes out at 42 or lower, USD/CAD should fall about 30-40 pips.
This is a short week with market holidays on Friday, but one thing to look out for is a meeting on Wednesday to examine and potentially make decisions on reinstating the Uptick rule on US Equities. This is likely to be a pretty bullish event if anything comes out of it, so plan on positioning for a long either on Tuesday or early Wednesday.
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
