Hi there my Forex friend 
Preview/Review on YouTube:
Hi-Quality Preview/Review:
7-2-2008R-P.swf
Long-term Outlook:
7-2-2008outlook1.swf
Let's first review what happened earlier today.
At 12:30 a.m. we had Australian Interest Rate statement which come out as expected but due to comments we sold AUD/JPY on the Diamonds room.
At 2:00 a.m. we had UK Nationwide House Prices and German Retail Sales. Nether of them hit my trigger so that was a double no trade. GBP/USD moved up by about 15 pips so nothing really important.
At 4:30 a.m. we had UK Manufacturing PMI which came out at 45.8 versus 49.8 expected. It was a first time in a while we had some price action (36 pips) going on but the deviation was really big and even with that GBP/USD retraced by 100%.
At 10:00 a.m. U.S. ISM Manufacturing came out much higher than expected: 50.2 versus 48.5 expected. Also, ISM Manufacturing Prices deviated a lot: 91.5 versus 87 expected. USD/JPY spiked up by about 40 pips, and then it retraced a lot.
At 9:30 p.m. we had Australian Retail Sales which came out much higher than expected. It came out 0.7% versus 0.1% expected. There was some rumors hinting that the number would actually be low so it was quite a surprise here. AUD/USD spiked up by 35 pips and then it was trading range.
Let's talk about Wednesday: only one tradable report is coming out.
1. Wednesday, July 2nd, 2008 (8:15 a.m. New York Time) USA
At 8:15 a.m we will have ADP Employment Change which is expected to come out at -20. I would trade 50K trigger here. If it comes out at -70K or more negative, I would sell USD/JPY and look for 30 pips price action or so. If it comes out at +30 K or better, I would look to buy USD/JPY and expect 30 pips move as well. We may see more price action since on Thursday we will have U.S. Non-Farm Payroll. However, don't expect a home run on this.
I also encourage you to watch a special video where Sir PIps is talking about long term trading. The link is provided at the beginning of this post. WE FIXED THE VIDEO FILE SIZE so I hope this time it is going to work much better. Thank you for all the feedback we received.
That's all for Wednesday.
If you are interested more in trading news, go to Forex Diamonds - News Trading Education where Sir Pips or Magister Pips are trading all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. They post trade plans and talk about the trades as well as they 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. Worst case scenario, you will learn something and get all your money back.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot & Crazy Cat
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
Preview/Review on YouTube:
Hi-Quality Preview/Review:
7-2-2008R-P.swf
Long-term Outlook:
7-2-2008outlook1.swf
Let's first review what happened earlier today.
At 12:30 a.m. we had Australian Interest Rate statement which come out as expected but due to comments we sold AUD/JPY on the Diamonds room.
At 2:00 a.m. we had UK Nationwide House Prices and German Retail Sales. Nether of them hit my trigger so that was a double no trade. GBP/USD moved up by about 15 pips so nothing really important.
At 4:30 a.m. we had UK Manufacturing PMI which came out at 45.8 versus 49.8 expected. It was a first time in a while we had some price action (36 pips) going on but the deviation was really big and even with that GBP/USD retraced by 100%.
At 10:00 a.m. U.S. ISM Manufacturing came out much higher than expected: 50.2 versus 48.5 expected. Also, ISM Manufacturing Prices deviated a lot: 91.5 versus 87 expected. USD/JPY spiked up by about 40 pips, and then it retraced a lot.
At 9:30 p.m. we had Australian Retail Sales which came out much higher than expected. It came out 0.7% versus 0.1% expected. There was some rumors hinting that the number would actually be low so it was quite a surprise here. AUD/USD spiked up by 35 pips and then it was trading range.
Let's talk about Wednesday: only one tradable report is coming out.
1. Wednesday, July 2nd, 2008 (8:15 a.m. New York Time) USA
At 8:15 a.m we will have ADP Employment Change which is expected to come out at -20. I would trade 50K trigger here. If it comes out at -70K or more negative, I would sell USD/JPY and look for 30 pips price action or so. If it comes out at +30 K or better, I would look to buy USD/JPY and expect 30 pips move as well. We may see more price action since on Thursday we will have U.S. Non-Farm Payroll. However, don't expect a home run on this.
I also encourage you to watch a special video where Sir PIps is talking about long term trading. The link is provided at the beginning of this post. WE FIXED THE VIDEO FILE SIZE so I hope this time it is going to work much better. Thank you for all the feedback we received.
That's all for Wednesday.
If you are interested more in trading news, go to Forex Diamonds - News Trading Education where Sir Pips or Magister Pips are trading all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. They post trade plans and talk about the trades as well as they 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. Worst case scenario, you will learn something and get all your money back.
Thank you and good luck with your trades.
To Our Success!
-Sir Pipsalot & Crazy Cat
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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