Forex Trading Signal 07/10/08

Crazy Cat

Former FPA Special Consultant
Hi there my Forex friend :)

Sorry that I don't have high quality version but is switching to which will be unavailable for next few hours, and I lost my login/pass to my yummyapple server.

Long term outlook:

Let's first review what happened earlier today.

UK Trade Balance and GDP out of Euro zone did not have any significant impact on currencies.

U.S. Crude Oil Inventories came out lower than expected. This should had sent oil price higher, and U.S. dollar lower but we got only 15 pips price action. Oil went up by $1 and then retraced by $1 as well. At least you should not have lost money on this.

At 9:30 p.m. we had Australian Employment Change report. It came out 29.8K versus 10K expected but also unemployment rate came out lower by 0.1 than expected, helping our trade a little. It spiked up from 0.9550 to a resistance level we drew together in the Diamonds room before the report at 0.9620. In the Diamonds room we took a quick short scalp when the price spiked up 70 pips.

Let's talk about Thursday.

1a. Thursday, July 10th, 2008 (4:00 a.m. New York Time) NORWAY
At 4:00 a.m. we will have Norway CPI. I would just ignore it.

1b. Thursday, July 10th, 2008 (4:00 a.m. New York Time) UK
Also at 4:00 a.m. we will have UK Halifax HPI m/m coming out which is expected to come out at -1.0%. I would trade it with 1.0 trigger. If it comes out at 0% or higher (positive), I would buy GBP/USD; if it comes out at -2.0% or more negative, I would sell GBP/USD. In either case, I would expect 25 pips price action.

2. Thursday, July 10th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected it they will hold the rates at 5.00%. Only 1 economist out of 49 is expecting them to raise the rates. If they raise the rates to 5.25% or higher, I would buy GBP/USD and I would expect it to move at least 75 pips. If they cut the rates to 4.75% or lower, I would sell GBP/USD and expect at least 75 pips move as well.

3. Thursday, July 10th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Initial Jobless Claims coming out. It is expected to come out at 395K. If it comes out at 415 K or higher, I would sell USD/JPY and expect 30 pips move. If it comes out at 375K or lower, I would buy USD/JPY and expect 30 pips move as well. This indicator is not as good as it used to be so be extra careful.

4. Thursday, July 10th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. Bernanke will be speaking. Please watch the video if you are interested in trading it. If you are new, skip it for sure.

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
Last edited by a moderator:

Mark Harding

Encoding too large

Hi CC and SP

The outlook video is encoded ten times more heavily than it should be again (the file size is +50 MB and it should be only around 5MB) and it doesn't work because it uses all the ram on my computer. When it's encoded for a file size of around 5MB it works perfectly.

Best regards


Sir Pipsalot

Former FPA Special Consultant
Hey Mark, I know there are file size issues and I'm trying to tweak with the recording program to work on them. Then again, a 20 minute video is bound to be 10-20MB even once it's optimized