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: 6-1-2-2008review.swf
Hi res: 6-1-2-2008preview.swf
Let's review what happened on Friday first.
At 2:00 a.m. we had German Retail Sales. It came out -1.7 versus 0.6. EUR/USD moved by about 50 pips although it was not possible to enter manually on the initial spike. Nevertheless, I hope you were able to make a few pips.
Then we had Swedish GDP. It did not perform very well, and also the signal was quite well unless you had an access to their local news providers. Probably I will be skipping this for a while.
The Euro CPI came out too close to expectations so it was a no trade.
At 8:30 a.m. the U.S. numbers came out pretty close to expectations so no trade here. Canadian GDP, however, came out pretty low, not low enough to enter a trade. This number was supported by GDP Annualized q/q which came out -0.3 versus 0.35. USD/CAD moved by 60 pips.
Let's talk about Sunday.
1. Sunday, June 1st, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Retail Sales coming out. Australian dollar is more in focus recently so this can be a good trade even with tighter triggers. Last month 0.2 deviation ended up working pretty well. I will trade it with 0.3 trigger. If it comes out at -0.1%, I would sell AUD/USD looking for about 30 pips of a price action. If it comes out at 0.5% or higher, I would buy AUD/USD and look for 30 pips price move as well. With 0.5 deviation, you can see as much as 50 pips price action.
Let's talk about Monday.
I would skip CPI out of Switzerland. This has not move the market in the past few months.
Euro, German and UK Manufacturing PMI is not tradable at this moment so I would also skip them.
2. Monday, June 2nd, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. ISM Manufacturing Index coming out. In the last couple of months, the marked responded very well to higher ISM Manufacturing Index. If it comes out at 49.5, I would buy USD/JPY and look for 30 pips price action. If it comes out at 47.5 or lower, then I would sell USD/JPY and look for 30 pips price action as well.
Let's start talking about Tuesday.
For Tuesday we will send a separate signal but there is one event we want to talk about now.
3. Tuesday, June 3rd, 2008 (12:30 a.m. New York Time) AUSTRALIA
At 12:30 a.m. we will have Australian Interest Rate Statement. It is expected they will leave the rates unchanged at 7.25%. If they decide to hike or cut, it will move the market extremely well. If they hike the rates to 7.50%, I would go long on AUD/USD, looking for 70 pips price action. If they cut the rates to 7.00%, I would sell AUD/USD and look for 70 pips as well.
That's all for now.
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!
-Crazy cat & 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: 6-1-2-2008review.swf
Hi res: 6-1-2-2008preview.swf
Let's review what happened on Friday first.
At 2:00 a.m. we had German Retail Sales. It came out -1.7 versus 0.6. EUR/USD moved by about 50 pips although it was not possible to enter manually on the initial spike. Nevertheless, I hope you were able to make a few pips.
Then we had Swedish GDP. It did not perform very well, and also the signal was quite well unless you had an access to their local news providers. Probably I will be skipping this for a while.
The Euro CPI came out too close to expectations so it was a no trade.
At 8:30 a.m. the U.S. numbers came out pretty close to expectations so no trade here. Canadian GDP, however, came out pretty low, not low enough to enter a trade. This number was supported by GDP Annualized q/q which came out -0.3 versus 0.35. USD/CAD moved by 60 pips.
Let's talk about Sunday.
1. Sunday, June 1st, 2008 (9:30 p.m. New York Time) AUSTRALIA
At 9:30 p.m. we will have Australian Retail Sales coming out. Australian dollar is more in focus recently so this can be a good trade even with tighter triggers. Last month 0.2 deviation ended up working pretty well. I will trade it with 0.3 trigger. If it comes out at -0.1%, I would sell AUD/USD looking for about 30 pips of a price action. If it comes out at 0.5% or higher, I would buy AUD/USD and look for 30 pips price move as well. With 0.5 deviation, you can see as much as 50 pips price action.
Let's talk about Monday.
I would skip CPI out of Switzerland. This has not move the market in the past few months.
Euro, German and UK Manufacturing PMI is not tradable at this moment so I would also skip them.
2. Monday, June 2nd, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. ISM Manufacturing Index coming out. In the last couple of months, the marked responded very well to higher ISM Manufacturing Index. If it comes out at 49.5, I would buy USD/JPY and look for 30 pips price action. If it comes out at 47.5 or lower, then I would sell USD/JPY and look for 30 pips price action as well.
Let's start talking about Tuesday.
For Tuesday we will send a separate signal but there is one event we want to talk about now.
3. Tuesday, June 3rd, 2008 (12:30 a.m. New York Time) AUSTRALIA
At 12:30 a.m. we will have Australian Interest Rate Statement. It is expected they will leave the rates unchanged at 7.25%. If they decide to hike or cut, it will move the market extremely well. If they hike the rates to 7.50%, I would go long on AUD/USD, looking for 70 pips price action. If they cut the rates to 7.00%, I would sell AUD/USD and look for 70 pips as well.
That's all for now.
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!
-Crazy cat & 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
