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Forex Trading Signal 06/23/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jun 23, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hey folks,

    We continue to maintain a short bias across most markets (stocks, EU, GU, commodities, Gold, Silver, etc.) as we have for weeks now and will maintain that bias until evidence of a meaningful low is in place. On Monday, pretty much everything slid down in line with our outlook and the bottom is not yet in sight. Even a reasonably better than expected German IFO report had a very rare failure as the EUR/USD sold off instead of rallying. This selloff should at least take us to 880 on the S&P, but the depth of Monday's selloff makes it more likely we'll head down to 850 and potentially lower, but we'll see how that pans out over the next couple of days. In currencies, the USD is bottled up and ready to burst here. It's already made major moves vs. commodity currencies and the European majors, while lagging behind, may very well play catch up here as this week progresses. On EU, look for a break of 1.3750 to target 1.3500 for the next support while a break of 1.6200 on GU will see 1.6000 and likely 1.5800. Odds are we're not only headed down to test these levels, but to break them this week or next at the latest. That said, Tuesdays can often work to consolidate or temporarily reverse the trend (Turn Around Tuesday syndrome), so look out for such action just in case. For Tuesday's news:

    1000 US Existing Home Sales m/m (4.82M expected) - Exisiting home sales has been the most active and best trading housing report in recent months. I expect it to pull both stocks and currencies, but be careful at watch related headlines in case some other details of the report (like median sale price and % from foreclosures) cause a bit of second guessing.
    If it comes out at 5.00M or higher, EUR/USD should rally 40-50 pips in the first 20 minutes.
    If it comes out at 4.62M or lower, EUR/USD should sell off 40-50 pips in the first 20 minutes.

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  2. dph

    dph Recruit

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    timezone indicator

    would it be possible to indicate the timezone being used for the news signals somewhere on this page?

    this would help newbies.

    thanks!
     
    #2 dph, Jun 23, 2009
    Last edited: Jun 23, 2009
  3. gsseel

    gsseel Recruit

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    Sorry?

    Sorry, is that around the right way? If the actual result is greater than the estimate then it should be good for the US currency. ie if actual is 5 mil+ then the EU/USD should FALL and vica versa. Someone correct me if I'm wrong.
     
  4. Cdtmorpips

    Cdtmorpips Recruit

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    Yup thats right

    Lately good news for the US has made traders pull out of the dollar and go to riskier currencies like the euro etc.
     
  5. lawson2008

    lawson2008 Recruit

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    forex tarding signal 6/23/09

    The news often get pasted on forex factory late,say 20 minutes after the release.Your signal is for the first 20 minutes wherelse can i be on time
     
  6. gpir

    gpir Private

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    can someone advise on this trigger is this reading back to front...shouldn't better news be better for the u.s so sell eur/usd and buy if worse or is this the same as buy the eur/jpy if better news or sell if worse news.. someone please inform
     
  7. Nancy Cheah

    Nancy Cheah Sergeant

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    How about trying "www.fxstreet.com"?
     
    #7 Nancy Cheah, Jun 23, 2009
    Last edited: Sep 5, 2011
  8. Pharaoh

    Pharaoh Colonel

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    The FPA's signals are set to New York Time.

    Happily for me, New York is in the same time zone as Florida, so I don't need to wear a 2nd watch to keep track of these.
    :D
     
  9. khalids24

    khalids24 Recruit

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    i got first time wrong signal from fpa

    hi fpa
    first time i got wrong signal
    you send us tht if Existing Home Sales 5m or higher than buy it bt it go lower than sell it
    bt result is diffrent
     
  10. passion1000

    passion1000 Recruit

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    SO eur/usd

    will b falling down from today!!?
     

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