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Forex Trading Signal 06/16/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jun 16, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there my friend ;)

    Let's first review what happened on Friday.

    On Friday we had U.S. CPI coming out. We have been focused on the CPI Core which did not deviate at all. The CPI headline came out 0.1 higher but nevertheless, it was a no trade. A no trade signal was a good signal as the market did not care too much about the headline number.

    At 9:55 a.m. we had Michigan Sentiment which came out lower but not low enough to enter a speculative trade. Another no trade here, and again the market did not move greatly either.

    Let's talk about Monday.

    1. Monday, June 16th, 2008 (5:00 a.m. New York Time) EUROZONE
    At 5:00 a.m. we are going to have CPI out of Eurozone. I would skip this. Euro may or may not move so you may or may not make some money :)

    2. Monday, June 16th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we are going to have U.S. Empire State Business Conditions Index which is expected to come out at -1.5. If it comes out at -11.5 or more negative, I would sell USD/JPY and look for 30 to 40 pips price action. If it comes out at +8.5 or higher, I would buy USD/JPY and expect 30 to 40 pips move as well.

    3. Monday, June 16th, 2008 (9:00 a.m. New York Time) USA
    At 9:00 a.m we are going to have U.S. TIC report. Well, the problem with this report is sometiems it moves greatly with smaller deviations, and sometimes it does not move at all with greater deviations. Also, sometimes deviations itself can be totally crazy. You might want to try to scalp a few pips if the actual number comes out negative but this might be just overtrading. In general, it is better to skip a few reports even if they move, than wake up, take a trade and lose money.

    4. Monday, June 16th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. Bernanke will be speaking. This is not for beginners at all so please skip it. If you have any open trades, keep in mind that there might be some price action happening around 10 a.m.

    This is pretty much all for Monday. Not much happening at all.

    Thank you and good luck with your trades.

    To Our Success!
    -Crazy Cat

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