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Forex Trading Signal 07/09/09

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 9, 2009.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hey folks,

    Stocks are continuing to confirm the downside with an intraday break of 878 that was only salvaged by a "plunge protection team" surge of buying in the last half hour to force a close above that 878 neckline everyone's watching. As I've been saying, we could get a decent short term bounce, but the probabilities for one isn't very high. I'd recommend holding short, or if you're not in, getting short either on another clear break of 878 or on a bounce up to 900 if we're lucky enough to get one (I'll add there if it happens as well)

    The EUR/USD and GBP/USD have looked medium term bearish, but still have yet to take out their June 8th lows, and until they do, I think it's unwise to work position trades or ambitious swing trades looking for more downside. The key level to watch is likely 1.3790 on the EUR/USD for now since we're more likely to exceed those lows on the Euro right now than the Pound. Until then, I'm sticking to scalps and short term trading support and resistance and following momentum when we get a recognizable trend rolling for a session.

    Gold and Silver worked notably lower today which was good, but they're extending out a 5 wave that will see some sort of correction upwards sometime soon most likely. The plan is to just stay short here if you're in. If you're looking for entry, I'd wait until that correction develops and starts to top out. I'll let you know.

    In news Wednesday, both Halifax HPI and AU Employment data came out too close to expectations to hit our triggers. For Thursday:

    0700 UK Interest Rate Statement (expected no change at 0.50%) - Economists are unanimous in expecting no change, and I agree that there's almost no chance we'll see a change in rates here. Obviously any hike is bullish GU and any cut is bearish GU, but the market focus will be more on the statement than the decision itself since that's where the controversy lies. There's enough back and forth about the BoE potentially expanding their Quantitative Easing (QE) measures by an additional £25 billion to their £150 billion maximum.

    If they expand their QE by £25 billion, or better yet, hint at getting the government to expand the maximum beyond £150 billion, that will be bearish GBP/USD and cause it to sell off by 50+ pips.
    If they refrain from expanding their QE and keep it at £125 billion, that will be bullish GBP/USD and cause it to rally by 50 pips.

    Obviously other things that come up in the statement will have an effect, but QE is far and away the most anticipated issue. Because of this, it's likely speculation over an expansion of QE will weigh heavily on the GBP throughout the European session and give some good longs on EUR/GBP and shorts on GBP/USD. If there is a big surge towards GBP weakness during the session, be much more careful and quick to exit if that rumor is confirmed with a mere £25 billion expansion, as profit taking will set in shortly thereafter.

    Sir Pipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 14-days $39.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.

    To our success,
    Sir Pipsalot
  2. S.chadha

    S.chadha Recruit

    Apr 17, 2009
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    Recomendation to join forex Diamonds

    On recomendation of your signal site we hv made payment for two week and seen the video also but after that we do not have the details how to access the room. (see below details) and we have send two reminders also. Its not complaint there may be mistake from our side also but we seek your assistant
    to enter the room.
    please advice

    From: payments@forexdiamonds.com
    Date: Wed, 8 Jul 2009 05:34:31 -0400
    Subject: Welcome to Forex Diamonds!

    Hi Ravi Bhushan,

    Thank you for joining ForexDiamonds and welcome to our family.

    Before doing anything, please watch the orientation video so you would know what to expect. Here is the link:

    Please, do NOT log in to the room if you did not watch that video. If you want to make money on your account, you really have to understand how it works, and this video should tell you the basics.

    Also, in the first few days I strongly recommend you to trade mini or micro lots so you can get an idea how this works. Once you are familiar with our room, you can start trading more. Please, do not risk more than you are told to risk on your account. Unfortunately, sometimes there are people who put all the money on one trade but this service is not about gambling but about making money. You cannot expect 100% right signals, and that's why right money management is very essential.

    We hope you will enjoy the Diamonds service, and we hope you will stay for a longer time. However, please remember that you can cancel the service anytime by sending us a cancelation notice. Send your cancellation request to payments@forexdiamonds.com

    Please enjoy and good luck :)
    -Crazy Cat and Sir Pips

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