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Forex Trading Signal 06/03/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jun 3, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hey folks,

    Markets seemed to consolidate on Tuesday to digest those Monday gains, and near term, a move in either direction is a possibility. If risk aversion does rear it's ugly head and force some USD strength and stock weakness, I would look to buy a steep dip into the mid to low 1.4100's on EUR/USD or 920-930 on the S&P 500 as a good point to get long for a turnaround later in the day or into Thursday. If we start reasserting the uptrend with clear breakouts higher, keep trading along with the momentum and avoid picking tops since that practice has been a bit rough as of late. Gold and silver are still working on topping out, so as I said yesterday, it's an ok time to start to get short for the medium to long term trade, but there might be a bit of a bumpy ride holding short near-term. Australia GDP came in much higher than expected helping Oz to avoid a technical recession. AUD/USD managed a nice 55 or so pip gain on the news and could push higher with some help from a weaker USD. For Wednesday:

    0428 UK Services PMI (49.5 expected) - We've had 5 consecutive months of higher releases and better than expected figures here, so expect a bit of pre-news optimism on this release.
    If it comes out at 50.5 or higher, GBP/USD should rally 50 pips somewhat easily.
    If it comes out at 50 or higher, it's a bit more speculative, but GBP/USD should still have some buying pressure.
    If it comes out at 48.6 or lower, GBP/USD should sell off 50 pips.

    0815 US ADP Employment Change (-525 expected)
    If it comes out at -425 or higher, EUR/JPY should rally 50 pips
    If it comes out at -625 or lower, EUR/JPY should fall 50 pips

    1000 US ISM Non-Manufacturing Composite (45.0 expected) + Bernanke Testimony - The number may give EUR/JPY a small push with a deviation of 1.5 or more, but attention will likely be more focused on Ben Bernanke's testimony to the House Budget Committee. There will likely be a prepared statement released at 10am EST or shortly thereafter, so I would recommend focusing on the testimony rather than blindly trading the ISM Non-Manufacturing number (still take it into account though).

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  2. qasims

    qasims Recruit

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    time confusion

    im sorry to say that these are not trading signals, but playing with people's mind

    reg....
     
    #2 qasims, Jun 3, 2009
    Last edited: Jun 3, 2009
  3. CBuilder

    CBuilder Private

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    They use EST here, it is GMT - 5 i guess
     
  4. rparmar008

    rparmar008 Recruit

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    Help?

    Hi
    Can you please let me know where to find this info before its too late to trade? As by time I read it I have missed the boat...
    0428 UK Services PMI (49.5 expected) - We've had 5 consecutive months of higher releases and better than expected figures here, so expect a bit of pre-news optimism on this release.
    If it comes out at 50.5 or higher, GBP/USD should rally 50 pips somewhat easily.
    If it comes out at 50 or higher, it's a bit more speculative, but GBP/USD should still have some buying pressure.
    If it comes out at 48.6 or lower, GBP/USD should sell off 50 pips.

    is there a link somewhere? I am new to this sorry.....
    Thanks
    Rick
     
  5. ayngel

    ayngel Recruit

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    Hi

    I noticed during last 2 days (June 2 and 3) that UK posted good results on fundamental reports. As soon as the positive pips were reached, immediately at 08.31 GMT the short sellers went into action for 100 pips reverse down.
    Is this the new game plan for trading the news?

    Also today the UK results were available 2 minutes before announced time and started moving up.

    ayngel
     

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