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Forex Trading Signal 07/03/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 3, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my Forex friend :)

    Hi-Quality Preview/Review:
    1) 7-3-2008R-P1.swf
    2) 7-3-2008R-P2.swf

    Long-term Outlook:
    3) 7-3-2008outlook.swf


    Let's first review what happened on Wednesday.

    U.S. ADP came out -79K versus -20K expected. USD/JPY spiked down by about 30 pips and then it went down even more. EUR/USD reacted even better.


    Let's talk about Thursday.

    1. Thursday, July 3rd, 2008 (3:30 a.m. New York Time) SWEDEN
    At 3:30 we will have Interest Rate coming out of Sweden. 64% of economists are expecting them to hike the rates to 4.50% or even better to 4.75%, I would sell EUR/SEK and look for 300 pips price action. If they leave the rates unchanged, I would buy EUR/SEK and expect 300 pips move as well.

    2. Thursday, July 3rd, 2008 (4:30 a.m. New York Time) UK
    At 4:30 a.m. we will have UK Services PMI. It is expected to come out at 49.5. If it comes out at 50.2 or higher, I would buy GBP/USD and look for 30 pips price action. If it comes out at 48.8 or lower, I would sell GBP/USD and look for 30 pips price action as well.

    3. Thursday, July 3rd, 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. Only 1 economist out of 58 is expecting them to leave the rates unchanged. If they hike the rates, EUR/USD is going to spike up a little but probably there will be a lot of people wanting to take profits so after the spike up we might see a lot of selling pressure. Therefore, I might be selling EUR/USD right after the initial spike. Please watch the video for full explanation of this strategy. If they leave the rates unchanged, it will be a clear sell signal on EUR/USD, good for 70 pips or so.

    4. Thursday, July 3rd, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have U.S. Non-Farm Payroll which is expected to come out at -60K. The expectation range is between -130K and -20K so no one is expecting this number to be positive. If it comes out at -15K or higher, it would be the highest reading since February and I think it will be good for the U.S. dollar and I would buy USD/JPY. If it comes out at -110 K or more negative, I would sell USD/JPY and look for 50 pips move. We will also have Unemployment Rate coming out and if it is going to deviate by 0.2, this may either help a lot or screw your trade up, depending if it is supporting or conflicting with the NFP number. Higher unemployment rate is bad for the dollar, and lower unemployment rate is good for the dollar. We will also have Initial Jobless Claims, and deviation of 25K might be a problem or a good help, depending on which way it deviated. Higher number on Initial Jobless Claims is bad for the dollar, and lower number is good for the dollar.

    5. Thursday, July 3rd, 2008 (8:35 a.m. New York Time) EURO ZONE
    At 8:35 a.m. we will have Trichet speaking. Please watch the video for details about this report.

    6. Thursday, July 3rd, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. we will have ISM Non-Manufacturing coming out which is expected to come out at 51.0. If NFP deviated a lot, ISM Non-Manufacturing may not move the market a lot but if NFP came out as expected, people will be focused on the ISM. 1.0 deviation should move USD/JPY very well but we also had complete reversal. If it comes out at between 51.1 and 51.9, I would sell as soon as we have a spike up on USD/JPY 20 pips away from the prerelease. If it comes out at between 50.0 to 50.9, I would buy USD/JPY as soon as the price went down by 20 to 40 pips. However, if it comes out at 52.0 or higher, I would buy on the spike and expect USD/JPY to move 40 pips up. If it comes out at 49.9 or lower, I would sell on the spike and expect 40 pips move as well. Please watch the video for detailed explanation.

    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 Thursday.

    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
     
  2. Hisashi

    Hisashi Recruit

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    Damn....

    Oh my god, what I got for US ISM Non-Manufacturing Compoite was 51.7 whereas the actual number was 48.2 that was a clear sell signal.
    I have been using SNW for 9 months but this is the first time I got a wrong number.
    I went long on USD/JPY with SNW and I lost tens of thousands of dollars...
    Hope we'll get good trading opportunities next week.
     
  3. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Well, the official signal on SNW was a no trade... And I am sure about it because I was trading with the SNW too. Did not make and did not lose anything....
     

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