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Forex Trading Signal 08/28/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Aug 27, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my Forex friend :)

    Hi-Quality Preview/Review + Long-term Outlook:
    1) 8-28-2008r-p.swf

    Let's first review what happened on Wednesday.

    It came out higher than expected by 1.4, from -0.7% expected to 0.7%, and the headline came out higher as well. In the first minute it moved by only 10 pips but it was a beginning of the up trend and eventually USD/JPY moved by 80 pips. It seems it worked better so maybe next time I will focus more on it.

    Let's talk about Thursday.

    1. Thursday, August 28th, 2008 (2:00 a.m. New York Time) UK
    At 2:00 a.m. we will have UK Nationwide House Prices m/m which is expected to come out at -1.5%. If it comes out at -2.0% or lower (more negative), I would sell GBP/USD and expect 30 pips move. On the other hand, if it comes out at -1.0% or less negative, I would buy GBP/USD and expect 30 pips move as well.

    2. Thursday, August 28th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have U.S. 2nd Q GDP Annualized Prelim. Rev. which is expected to come out at 2.7%. Because this is annualized, I would use 0.4 trigger here. If it comes out at 2.3% or lower, I would sell USD/JPY and look for 40 pips price action. On the other hand, if it comes out at 3.1% or higher, I would buy USD/JPY and expect 40 pips move as well. If we get a signal, make sure there is no significant conflict with U.S. Initial Jobless Claims. Remember, higher IJC is bad for the U.S. dollar (selling pressure on USD/JPY) and lower IJC is good for the U.S. dollar (buying pressure on USD/JPY). Also, be careful of a possible whipsaw/reversal effect as this was doing that before.

    That would be all for Thursday.

    Please also watch the combo video with Review/Preview + LT Outlook.

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    -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
     

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