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Forex Trading Signal 04/09/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Apr 9, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hey folks,

    Here is the video:
    04-09-2009.swf

    Wednesday saw the Euro, Gold and Stocks form a bit of a floor and edge higher, but the likelihood is that the floor will give way tomorrow and point towards lower prices. I see these modest rallies as shorting opportunities. Yesterday's reassuring move from the SEC was good for about a 10-12 point scalp on the S&P, so I hope you looked out for that if you trade stocks or stock futures. Watch the video for a more specific look at each market though. In news, we saw conflicting pressures from the FOMC minutes' language showing solidarity in calling for asset purchases which was a bullish pressure, but soberingly negative commentary on the economic situation which was obviously a bearish pressure on the EUR/USD, so it wasn't clear enough to trade confidently in my opinion. Australia's Employment numbers came in only a little low, but their unemployment rate came in quite high at 5.7% vs. 5.4% expected which coupled with the slightly lower than expected employment numbers did make for a 40 pip move lower right away; however, without the weight of the employment numbers to really drag things down, the AUD/USD recovered and eventually reversed. For Thursday:

    0700 CAD Employment (-50K expected) - This should be a good trade especially with the primary initial focus on the UK interest rate statement. It might give you more of a chance to get in during that first minute. As I've suggested the past couple of months though, don't hold onto this one past 07:45.
    If it comes out at -25K or higher, USD/CAD should sell off by 40-50 pips.
    If it comes out at -83K or lower, USD/CAD should rise by 40-50 pips.
    If the deviation is much larger, USD/CAD could stage a bigger 80-120 pip move.
    Watch out for the unemployment rate expected at 7.9 to 8.0%. If it comes out higher that's bullish for USD/CAD and lower is bearish.

    0700 UK Interest Rate Decision (steady at 0.50% expected) - There is very little chance they will cut rates at this meeting. If the do cut rates, it should be a GBP/USD selling opportunity good for 50 pips down. Otherwise, the focus will be on their asset purchasing plan and whether or not King will reassure markets that they plan to fully carry out the plan (and maybe even expand it) which would be bullish, or scale back the scope and head in a different direction which would be GBP/USD bearish.

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  2. Conshus

    Conshus Recruit

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    Special Request...

    Can you put GMT times for these signals as well?

    Thanks :)
     
  3. Mark Harding

    Mark Harding Corporal

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    Thanks Sir Pips - enjoy your weekend too

    Mark
     

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