Hey Folks,
Here is the video:
04-14-2009.swf
Monday saw continued risk appetites pulling stocks higher and USD lower as earnings continue to outperform and the market is now anticipating an optimistic speech from President Obama tomorrow at 1130 EST. I think as of right now, a continuation trade towards USD short is appropriate, but with Eurozone economic pessimism right now, I'd prefer the GBP/USD or the AUD/USD as pure risk appetite plays over the EUR/USD. Please watch the video for a closer look at this. Stocks seem to be rallying within a channel and may have topped out today, but could make another run for the channel top assuming this risk appetite continues. Stocks can really be played long or short if you're positioning yourself well due to anticipated volatility. Gold looks like it wants to recover to the 925 to 932 level before falling hard again, but most of its bounce so far has been on light volume, so we may see it turn around sooner rather than later as the mood is turning bearish on gold. For news on Tuesday April 14th:
0830 US Retail Sales X Autos (0.0% expected) - Make sure the headline retail sales comes out in the same direction, otherwise I'd stay out.
If it comes out at 0.8% or higher, EUR/JPY should gain 40 pips quickly, and potentially more soon after.
If it comes out at -0.8% or lower, EUR/JPY should lose 40 pips quickly, and potentially more soon after.
Keep in mind the PPI numbers are coming out at the same time. As expected or a bit higher may add some buying pressure, while lower than expected numbers there might put on a bit of selling pressure. The Retail Sales numbers should take precedent, but the PPI numbers could either mute or exacerbate a move.
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
Here is the video:
04-14-2009.swf
Monday saw continued risk appetites pulling stocks higher and USD lower as earnings continue to outperform and the market is now anticipating an optimistic speech from President Obama tomorrow at 1130 EST. I think as of right now, a continuation trade towards USD short is appropriate, but with Eurozone economic pessimism right now, I'd prefer the GBP/USD or the AUD/USD as pure risk appetite plays over the EUR/USD. Please watch the video for a closer look at this. Stocks seem to be rallying within a channel and may have topped out today, but could make another run for the channel top assuming this risk appetite continues. Stocks can really be played long or short if you're positioning yourself well due to anticipated volatility. Gold looks like it wants to recover to the 925 to 932 level before falling hard again, but most of its bounce so far has been on light volume, so we may see it turn around sooner rather than later as the mood is turning bearish on gold. For news on Tuesday April 14th:
0830 US Retail Sales X Autos (0.0% expected) - Make sure the headline retail sales comes out in the same direction, otherwise I'd stay out.
If it comes out at 0.8% or higher, EUR/JPY should gain 40 pips quickly, and potentially more soon after.
If it comes out at -0.8% or lower, EUR/JPY should lose 40 pips quickly, and potentially more soon after.
Keep in mind the PPI numbers are coming out at the same time. As expected or a bit higher may add some buying pressure, while lower than expected numbers there might put on a bit of selling pressure. The Retail Sales numbers should take precedent, but the PPI numbers could either mute or exacerbate a move.
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
