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: 5-30-2008review.swf
Hi res: 5-30-2008preview.swf
The UK Nationwide House Prices came out incredibly low deviating by -2.0. This is the largest deviation since 2001. GBP/USD was moving very slowly. EUR/GBP moved even better than GBP/USD. Watch the video for more details.
Then we had U.S. GDP and Initial Jobless Claims. The GDP came out exactly as expected and the IJC came out nearly as expected. No trades here.
Let's talk about Friday.
1. Friday, May 30th, 2008 (2:00 a.m. New York Time) GERMANY, EURO ZONE
At 2:00 a.m. we will have German Retail Sales. This can move a little but we will see. It is expected to come out at 0.6%, and I would like to use about 1.5 trigger here. If it comes out at -1.0% or more negative, I would sell EUR/USD and I would bet on only 20 pips on this one. It could be much more but it could be nothing either. If it comes out at 2.0% or higher, I would buy EUR/USD and expect 20 pips move as well.
2. Friday, May 30th, 2008 (3:30 a.m. New York Time) SWEDEN
At 3:30 a.m. we will have GDP q/q coming out of Sweden. It is expected at 0.7. I would use 0.2 trigger here. If it comes out at 0.9 or higher, I would be looking to sell EUR/SEK looking for 300 pips price action. If it comes out at 0.5% or lower, I would buy EUR/SEK and expect 300 pips move as well.
3. Friday, May 30th, 2008 (5:00 a.m. New York Time) EUROZONE
At 5:00 a.m. we will have Eurozone CPI Estimate y/y. It is expected to come out at 3.5%. The Estimate tends to move the market better than actual releases that come out 2 weeks later. If it comes out at 3.7%, I would buy EUR/USD and expect a move of about 30 pips. If it comes out at 3.3% or lower, I would sell EUR/USD for about 30 pips as well.
4a. Friday, May 30th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have a few things happening. Canadian GDP m/m is expected to come out at 0.0%. I would trade it with 0.3 trigger here. If it comes out at 0.3% or higher, I would sell USD/CAD and look for 35 pips. If it comes out at -0.3% or more negative, I would buy USD/CAD and look for 35 pips move as well. I would prefer not to see any conflicts with the GDP Annualized or U.S. reports.
4bc. Friday, May 30th, 2008 (8:30 a.m. New York Time) USA
Also at 8:30 a.m. we will have U.S. PCE core coming out. A deviation of 0.2 should be sufficient to enter a trade. If it comes out at 0.3% or higher, it should move EUR/USD down; if it comes out at -0.1% or lower, it should be EUR/USD up. I cannot tell the profit target because this will all depend on if there are any conflicts with the other U.S. indicators. Also, the U.S. Personal Income is slightly more important than Personal Spending. If the U.S. Personal Income comes out at 0.6 or higher, that should be positive for the dollar; if the Personal Income comes out at -0.2 or more negative, this should be negative for the U.S. dollar.
5. Friday, May 30th, 2008 (9:42 a.m. New York Time) USA
At 9:42 a.m. we will have Chicago PMI coming out. If you are able to get the number at 9:42, not 9:45, then I would trade it; otherwise, skip it. It is expected to come out at 48.5. If it comes out at 52.0 or higher, I would buy USD/JPY and expect 40 pips move. If it comes out at 44.9 or lower, I would sell USD/JPY and expect 40 pips as well.
6. Friday, May 30th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Consumer Sentiment, not a big deal, skip it.
That's all for Friday.
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: 5-30-2008review.swf
Hi res: 5-30-2008preview.swf
The UK Nationwide House Prices came out incredibly low deviating by -2.0. This is the largest deviation since 2001. GBP/USD was moving very slowly. EUR/GBP moved even better than GBP/USD. Watch the video for more details.
Then we had U.S. GDP and Initial Jobless Claims. The GDP came out exactly as expected and the IJC came out nearly as expected. No trades here.
Let's talk about Friday.
1. Friday, May 30th, 2008 (2:00 a.m. New York Time) GERMANY, EURO ZONE
At 2:00 a.m. we will have German Retail Sales. This can move a little but we will see. It is expected to come out at 0.6%, and I would like to use about 1.5 trigger here. If it comes out at -1.0% or more negative, I would sell EUR/USD and I would bet on only 20 pips on this one. It could be much more but it could be nothing either. If it comes out at 2.0% or higher, I would buy EUR/USD and expect 20 pips move as well.
2. Friday, May 30th, 2008 (3:30 a.m. New York Time) SWEDEN
At 3:30 a.m. we will have GDP q/q coming out of Sweden. It is expected at 0.7. I would use 0.2 trigger here. If it comes out at 0.9 or higher, I would be looking to sell EUR/SEK looking for 300 pips price action. If it comes out at 0.5% or lower, I would buy EUR/SEK and expect 300 pips move as well.
3. Friday, May 30th, 2008 (5:00 a.m. New York Time) EUROZONE
At 5:00 a.m. we will have Eurozone CPI Estimate y/y. It is expected to come out at 3.5%. The Estimate tends to move the market better than actual releases that come out 2 weeks later. If it comes out at 3.7%, I would buy EUR/USD and expect a move of about 30 pips. If it comes out at 3.3% or lower, I would sell EUR/USD for about 30 pips as well.
4a. Friday, May 30th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have a few things happening. Canadian GDP m/m is expected to come out at 0.0%. I would trade it with 0.3 trigger here. If it comes out at 0.3% or higher, I would sell USD/CAD and look for 35 pips. If it comes out at -0.3% or more negative, I would buy USD/CAD and look for 35 pips move as well. I would prefer not to see any conflicts with the GDP Annualized or U.S. reports.
4bc. Friday, May 30th, 2008 (8:30 a.m. New York Time) USA
Also at 8:30 a.m. we will have U.S. PCE core coming out. A deviation of 0.2 should be sufficient to enter a trade. If it comes out at 0.3% or higher, it should move EUR/USD down; if it comes out at -0.1% or lower, it should be EUR/USD up. I cannot tell the profit target because this will all depend on if there are any conflicts with the other U.S. indicators. Also, the U.S. Personal Income is slightly more important than Personal Spending. If the U.S. Personal Income comes out at 0.6 or higher, that should be positive for the dollar; if the Personal Income comes out at -0.2 or more negative, this should be negative for the U.S. dollar.
5. Friday, May 30th, 2008 (9:42 a.m. New York Time) USA
At 9:42 a.m. we will have Chicago PMI coming out. If you are able to get the number at 9:42, not 9:45, then I would trade it; otherwise, skip it. It is expected to come out at 48.5. If it comes out at 52.0 or higher, I would buy USD/JPY and expect 40 pips move. If it comes out at 44.9 or lower, I would sell USD/JPY and expect 40 pips as well.
6. Friday, May 30th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Consumer Sentiment, not a big deal, skip it.
That's all for Friday.
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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