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Forex Trading Signal 05/28/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 28, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    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: 5-28-2008.swf

    Let's review what happened on Tuesday.

    In general, after long weekend in the U.S., we saw reversal on U.S. dollar.

    German GDP did not move the market.

    The House Price index came out just slightly lower than expected but no surprises here.

    The New Home Sales came out way too close to expectations to trade it. Also, we had U.S. Consumer Confidence which came out low but within the range of economists' estimate. No trades here, no surprises.

    Not much is going on tomorrow either.

    At 8:00 a.m. we will have Norwegian Interest Rate statement. It is very unlikely they will change rates so it is a pretty easy trade if they change rates. If they hike the rates to 5.75% or higher, that would be strengthening NOK, so you would sell EUR/NOK and look for 400 pips or so. If they cut the rates to 5.25% or lower, that would be a buy signal on EUR/NOK, looking for 400 pips move as well.

    At 8:30 a.m. we will have U.S. Durable Goods X Transportation, also known as "Core". It is expected to come out at -0.5%. This number is kind of violate, it used to be a really good trading opportunity, and then it stopped performing, but last month it move the market pretty well. I think 1.5 trigger would be significant on this. If it comes out at 1.0% or higher, I would go long on USD/JPY and look for 35 pips. If it comes out at -2.0% or more negative, I would short USD/JPY, looking for 35 pips move as well. Sometimes you get overreaction here, sometimes the market does not care at all. For a few ideas how to trade this indicator, please watch the video.

    That's all for tomorrow.

    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
     
    #1 Crazy Cat, May 28, 2008
    Lasted edited by : Aug 15, 2015
  2. Hilarius

    Hilarius Private

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    Last month-core durable goods

    Dear Sir Pips & Crazy Cat,

    Just one note about last month's Core durable goods performance. We had than (4/24/2008 8:30 NYT) Initial Jobless Claims coming out simultaneously. That is what moved market last month. The IJC deviation was -33:).

    Let us all be careful about Core durable goods, and happy trading.
     
  3. Keith137

    Keith137 Recruit

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    Euro Zone Current A/c

    Dear Sir Pips & Crazy Cat,

    I was wondering why there was no mention of the Euro Zone current A/c which came out on Weds 21st May at 8am GMT. The USD rose about 100 pips against both the Euro and the Yen after the release.

    I saw this item listed as High importance on another web page.

    Regards Keith
     
  4. Keith137

    Keith137 Recruit

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    Apologies. The date in my previous post for the Euro Zone current A/c should have been Weds 28th May, not 21st.

    Regards Keith
     

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