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Forex Trading Signal 07/06/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 6, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hey folks,

    News Friday saw UK Service PMI basically as expected, so no trade there. Because a lot of the analysis from last Friday's signal still holds true, I'm going to requote it below:

    On EUR/USD and GBP/USD "Until we start setting some lower lows and breaking key support on either pair, it's best to keep playing the range on the 3 hour chart." New lows that would reinforce the idea there's a larger downtrend back in play are 1.6200 on GU and 1.3820 on EU.

    "The big down move in stocks we were looking for was already clearly set up [Thursday] (I clearly called for a short on stocks in both text and video), and it sure came in a hurry. With that head and shoulders pattern on the S&P 500 more clearly formed, the big question is whether or not we break out through the neckline. Depending on how you draw it, that neckline is either at 893 (sloping trendline support from mid May), 888 (previous daily swing low), or 879 (daily lows from mid May). I'm really not sure which of these is the clear breakout level to watch since a case could be made for each, which is why I wanted to get short early closer to the top of the right shoulder. Because I think the odds of a break lower are quite strong, I would advocate a short on any decent bounce to 900-920 if and when we get one if you're not already in. As far as profit taking is concerned, I'd plan to take some profits around 850 and we'll see how things look when we get there for the rest.

    In metals, silver just poked out below the key $13.45 support, and is holding just below it for now. I recommend either initiating a position trade short now, or waiting and doing so after a nice rally tops out. Watch the Thursday (7-02) video signal for more on silver and gold. "

    For news Monday:

    1000 US ISM Non-Manufacturing (46.0 expected) - This indicator won't cause a huge stir in the markets, but should still be worth trading if it hits a bigger deviation than it has recently.
    If it comes out at 48 or higher, EUR/JPY should rally 40+ pips.
    If it comes out at 44 or lower, EUR/JPY should sell off 40+ pips.

    0030 (just after midnight EST Tuesday) AU Interest Rates (expected no change at 3%) - Expectations are unanimous, so any move will get a big reaction.
    If they hike at all, AUD/USD will rally 70+ pips.
    If they cut at all, AUD/USD will sell off 70+ pips.

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  2. dph

    dph Recruit

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    timezone?

    Crazy,

    What timezone are you using in the news predictions?
    GMT?
     
  3. THEZAPPER

    THEZAPPER Banned spammer for ForexUnbiased.com

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    forex diamonds

    Hi
    I like the look of forex diamonds but I only have about $900 in my trading account. Do you know if that's enough for this kind of software?
    Thanks
     
  4. gpir

    gpir Private

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    dph and zapper, both of u might be gr8 guys but probably best to read some books first and general reasearch on the internet with regards to forex b4 any type of trading. These type of questions can be found on the various forex websites.If you spend some time researching you will get the answers you're looking for.If u need help after a period of time im sure then someone can direct you.These signals are for more advanced users.

    Probably educate yourself first and then practise on your trading beliefs then maybe come back here...believe me if your not discipline for this game then you might lose the lot.

    cheers hope this helps...
     
  5. yappyzk

    yappyzk Private, 1st Class

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    The Forex Diamonds is NOT a software, it's a news trading room thats run by Sir Pipsalot.

    Check out the trial before subscribing full.
     
  6. M.Nazri

    M.Nazri Private, 1st Class

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    sorry....i just want to know what the best and perfectly broker in Malaysia because i'm from there....i hope u'll guys old timer in forex can help me..thank you for your help....so much question i want to ask but my english language not so good as you all......i'm very sorry:D
     

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