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Forex Trading Signal 07/15/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 15, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there my Forex friend :)

    Hi-Quality Preview/Review:
    1) 7-15-2008r-p1.swf

    2) 7-15-2008r-p2.swf

    Long-term Outlook:
    3) 7-15-2008outlook.swf

    I am so sorry this signal is sent so late. I was busy with my iPhone 3G + games from AppStore... Just kidding... :) But seriously there is a lot stuff going on right now. I estimate since next week email should be processed much quickly.

    Let's first review what happened earlier today.

    UK PPI came out fairly mixed. It was not a good opportunity to trade and the price did not know where to move either.

    The CPI out of New Zealand came out higher than expected but not high enough to hit our triggers. It was a no trade. The spike was very short living, about 10 seconds only.

    UK RICS came out a little better than expected but not high enough to enter any trade.

    Let's talk about Tuesday.

    1. Tuesday, July 15th, 2008 (4:30 a.m. New York Time) UK
    At 4:30 a.m. we will have UK CPI coming out. This indicator has been acting strangely. Last month we had +0.2 deviation so GBP/USD should have been going up but it actually spiked up by 30 pips and then it went the other way. Two months ago it spiked up by 50 pips and went the other way. Three months ago we saw 40 to 50 pips move and again it went the other way. Probably one way to approach it is to trade against it, that is wait when it moves 40 to 50 pips and enter a position with opposite direction. Why? Please watch the video for the detailed explanation. Because of that, there are no triggers for this report.

    2. Tuesday, July 15th, 2008 (5:00 a.m. New York Time) GERMANY
    At 5:00 a.m. we will have German ZEW coming out. This moves pretty well. If the number comes out much worse then expected, EUR/USD may go down by 35 to 50 pips but expect a big retracement as well. If it comes out at -60 or more negative, sell EUR/USD but look to get out pretty quickly because most likely it will retrace. If it comes out at -50 or less negative, it is going to be first better-than-expected number since March. On March we had a steady price action. Most likely people will be very surprise so I would expect 50 pips move up but take some profit once you are in profit just in case it would retrace.

    3. Tuesday, July 15th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have a few U.S. indicators coming out. I will be trading U.S. Retail Sales X Autos (Core) which is expected to come out at 1.0%. With 0.5 deviation you can expect 30 pips at most, and probably there will be a big reversal. If it comes out at 1.6% or higher, that would should be good for USD/JPY and I would buy USD/JPY and look for 30 pips price action but be very careful. If it comes out at 0.4% or lower, that would be bad for the U.S. dollar and I would sell USD/JPY and look for 30 pips price action. Before the trade, look for support/resistance levels and don't try hard to break them if the price does not want to break them. If there is a big conflict with PPI, stay away or exit quickly. PPI should not be a big deal unless there is a big conflict.

    4. Tuesday, July 15th, 2008 (9:00 a.m. New York Time) CANADA
    At 9:00 a.m. we will have Canadian Interest Rate statement. It is expected they will keep the rates unchanged at 3.00%. If they hike the rates to 3.25%, I would sell USD/CAD and look for 70 pips price action. If they lower the rates to 2.75%, I would buy USD/CAD and look for 70 pips price action as well. They will also release a statement so this might move USD/CAD sharply.

    5. Tuesday, July 15th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. there will be Bernanke's testimony released. I would trade it on EUR/USD but if you are new, stay away from it. If interested in trading it, please watch the video.

    PLEASE ALSO WATCH Sir Pip's longer term outlook videos, links are always provided at the beginning of this post. A lot of people found them very useful. If you have any comments regarding that videos, please leave a comment. Sir Pips is working hard to improve our free tools so more and more people can benefit from them. For your convenience, here are the links so you don't even need to scroll up:


    That's all for this week.

    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
    #1 Crazy Cat, Jul 15, 2008
    Lasted edited by : Aug 15, 2015

    TEESAMS Recruit

    Mar 23, 2008
    Likes Received:

    Am new to forex and i hope good days ahead
    #2 TEESAMS, Jul 15, 2008
    Lasted edited by : Aug 15, 2015
  3. public enemy

    public enemy Recruit

    Oct 4, 2007
    Likes Received:
    =spiked up by 50 pips and went the other way= - it was very, very usefull warning.

    Thanks ! ! !

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