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: 6-5-2008review.swf
Hi res: 6-5-2008preview.swf
Let's talk about past Wednesday first.
At 4:30 a.m. we had UK Services PMI. It did not deviate enough low to enter a trade. No trade here.
The Retail Sales out of Euro Zone came out lower than expected. EUR/USD spiked down by 20 pips although I was expecting 30 pips move.
U.S. ADP Employment Change came out much higher than expected. USD/JPY spiked up 35 pips or so, and eventually it retraced allowing to enter at the prerelease price to make another, much bigger move up.
The U.S. ISM Non-Manufacturing was slightly better than expected but it was a no trade.
Then we had Interest Rate Statement out of New Zealand. They did not change the rates; however, the commentary right after the report sent NZD/USD down by well over 100 pips. Basically they said they will be cutting rates sometime this year. Watch the video for more details.
Let's talk about Thursday.
1. Thursday, June 5th, 2008 (3:00 a.m. New York Time) UK
At 3:00 a.m. we might have Halifax House Price Index m/m out of UK today. If for some reasons they will release it today, then you can try to take a trade. If it comes out at -2.0, I would sell GBP/USD and look for 20 to 30 pips of a price action. If it comes out at 0 or higher, I would buy GBP/USD and expect 20 to 30 pips move as well.
2. Thursday, June 5th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected they will hold the rates at 5.00%. If they hike the rates to 5.25%, I would go long on GBP/USD and expect 70 pips price action. If they cut the rates, I would sell GBP/USD and expect 70 pips move as well.
3. Thursday, June 5th, 2008 (7:45 a.m. New York Time) EURO ZONE
At 7:45 a.m. we will have Interest Rate statement out of Euro Zone. It is expected they will keep the rates unchanged at 4.00%. If they hike, I would go long on EUR/USD and expect 50 to 70 pips price action. If they cut the rates, I would sell EUR/USD and expect 50 to 70 pips move as well.
4. Thursday, June 5th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Building Permits m/m coming out. Last month we got a solid trigger and we did not see any significant move at all so watch out. If it comes out at 2.5% or higher, I would sell USD/CAD and expect 30 pips move. If it comes out at -1.5% or more negative, I would buy USD/CAD and expect 30 pips move as well. Again, be careful. Watch the video for more details.
5. Thursday, June 5th, 2008 (8:35 a.m. New York Time) EURO ZONE
At 8:35 a.m.Trichet will be speaking. If you want to trade it, watch the video.
6. Thursday, June 5th, 2008 (10:00 a.m. New York Time) CANADA
At 10:00 a.m. we will have Canadian Ivey PMI. With a nice trigger it usually moves by about 40 pips although we have seen 90 pips moves as well. If it comes out at 62 or higher, I would sell USD/CAD, looking for 40 pips price action. If it comes out at 56 or lower, I would buy USD/CAD and expect 40 pips move 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!
-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: 6-5-2008review.swf
Hi res: 6-5-2008preview.swf
Let's talk about past Wednesday first.
At 4:30 a.m. we had UK Services PMI. It did not deviate enough low to enter a trade. No trade here.
The Retail Sales out of Euro Zone came out lower than expected. EUR/USD spiked down by 20 pips although I was expecting 30 pips move.
U.S. ADP Employment Change came out much higher than expected. USD/JPY spiked up 35 pips or so, and eventually it retraced allowing to enter at the prerelease price to make another, much bigger move up.
The U.S. ISM Non-Manufacturing was slightly better than expected but it was a no trade.
Then we had Interest Rate Statement out of New Zealand. They did not change the rates; however, the commentary right after the report sent NZD/USD down by well over 100 pips. Basically they said they will be cutting rates sometime this year. Watch the video for more details.
Let's talk about Thursday.
1. Thursday, June 5th, 2008 (3:00 a.m. New York Time) UK
At 3:00 a.m. we might have Halifax House Price Index m/m out of UK today. If for some reasons they will release it today, then you can try to take a trade. If it comes out at -2.0, I would sell GBP/USD and look for 20 to 30 pips of a price action. If it comes out at 0 or higher, I would buy GBP/USD and expect 20 to 30 pips move as well.
2. Thursday, June 5th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected they will hold the rates at 5.00%. If they hike the rates to 5.25%, I would go long on GBP/USD and expect 70 pips price action. If they cut the rates, I would sell GBP/USD and expect 70 pips move as well.
3. Thursday, June 5th, 2008 (7:45 a.m. New York Time) EURO ZONE
At 7:45 a.m. we will have Interest Rate statement out of Euro Zone. It is expected they will keep the rates unchanged at 4.00%. If they hike, I would go long on EUR/USD and expect 50 to 70 pips price action. If they cut the rates, I would sell EUR/USD and expect 50 to 70 pips move as well.
4. Thursday, June 5th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Building Permits m/m coming out. Last month we got a solid trigger and we did not see any significant move at all so watch out. If it comes out at 2.5% or higher, I would sell USD/CAD and expect 30 pips move. If it comes out at -1.5% or more negative, I would buy USD/CAD and expect 30 pips move as well. Again, be careful. Watch the video for more details.
5. Thursday, June 5th, 2008 (8:35 a.m. New York Time) EURO ZONE
At 8:35 a.m.Trichet will be speaking. If you want to trade it, watch the video.
6. Thursday, June 5th, 2008 (10:00 a.m. New York Time) CANADA
At 10:00 a.m. we will have Canadian Ivey PMI. With a nice trigger it usually moves by about 40 pips although we have seen 90 pips moves as well. If it comes out at 62 or higher, I would sell USD/CAD, looking for 40 pips price action. If it comes out at 56 or lower, I would buy USD/CAD and expect 40 pips move 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!
-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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