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Forex Trading Signal 09/01/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Sep 1, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Joined:
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    Hi there my Forex friend :)

    Hi-Quality Preview/Review:
    1) 9-01-2008r-p.swf

    Let's first review what happened on Friday.

    On Friday Canadian and U.S. reports came out too close to expectations to enter a trade.

    On 9:45 a.m. we had Chicago PMI which came out much higher than expected. We saw 30 pips move on USD/JPY or 40 pips on EUR/USD. It was a very slow move so it was easy to get in at a good price.

    On Monday we have U.S. holiday (Labor Day) so a lot of people will not be trading so we may get weird price actions. Happy holidays! If you have a family, shut off your computer and get outside with your family, especially if you have a nice weather.

    We were supposed to have Australian Retail Sales but they moved it forward by 1 week. Frankly speaking, there is nothing to trade on Monday which is good. I do not like trading on holidays.

    On Tuesday at 12:30 a.m. we are going to have Australian Interest Rate statement. It is expected they will cut the rates from 7.25% to 7.00%. Only a few economists expect them to hold it steady. If they do not cut the rates (leave it at 7.25%), I would buy AUD/USD and expect 50 pips move. If they cut the rates to 6.75%, I would sell AUD/USD and expect 50 pips as well. If they cut by 0.25 to 7.00% (as expected), the price action will depend on the commentary so as of right now I do not have any recommendations here.

    We will talk about remaining Tuesday's reports tomorrow in the Tuesday's signal.

    That would be all for Monday and early Tuesday.

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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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