Hi there my Forex friend 
Let's first review what happened on Wednesday.
At 5:00 p.m. we had Interest Rate statement out of New Zealand, and it was a big mess. Some sources provided 0.25 cut (as expected) whereas some others 0.50 cut. I think officially it is 50 bp cut. I hope you made some money. I surely did.
At 9:30 p.m. we had Employment Change out of Australia. Whereas Employment change came out too close to expectations to enter a trade, unemployment rate dropped by 0.3% which was a big drop. 0.2 deviation is tradable so no wonder we saw such a big spike....
Let's talk about Thursday.
1. Thursday, September 11th, 2008 (4:45 a.m. New York Time) UK
At 4:45 a.m. we will have MPC Treasury Committee Hearings which may cause prices to move. I don't trade stuff like that so I don't have any recommendations.
2. Thursday, September 11th, 2008 (8:30 a.m. New York Time) USA and CANADA
At 8:30 a.m. we will have Trade Balance out of U.S. and Canada. I don't trade trade balances, not now. I would skip it. No, I *WILL* skip it.
3. Thursday, September 11th, 2008 (6:45 p.m. New York Time) NEW ZEALAND
At 6:45 p.m. we will have Retail Sales m/m out of New Zealand. This is only one tradable report for today. This can be tradable with 0.8 trigger but because spreads might be wider, I would recommend to use 1.0 trigger here. It is expected to come out at -0.3%. If it comes out at 0.7% or higher, I would buy NZD/USD and expect 35 pips move. If it comes out at -1.3% or more negative, I would sell NZD/USD and expect 35 pips move as well. If you have a broker with fixed spread, you may try 0.7 or 0.8 triggers but be very careful.
This would be all for Thursday.
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To Our Success!
-Crazy Cat
Let's first review what happened on Wednesday.
At 5:00 p.m. we had Interest Rate statement out of New Zealand, and it was a big mess. Some sources provided 0.25 cut (as expected) whereas some others 0.50 cut. I think officially it is 50 bp cut. I hope you made some money. I surely did.
At 9:30 p.m. we had Employment Change out of Australia. Whereas Employment change came out too close to expectations to enter a trade, unemployment rate dropped by 0.3% which was a big drop. 0.2 deviation is tradable so no wonder we saw such a big spike....
Let's talk about Thursday.
1. Thursday, September 11th, 2008 (4:45 a.m. New York Time) UK
At 4:45 a.m. we will have MPC Treasury Committee Hearings which may cause prices to move. I don't trade stuff like that so I don't have any recommendations.
2. Thursday, September 11th, 2008 (8:30 a.m. New York Time) USA and CANADA
At 8:30 a.m. we will have Trade Balance out of U.S. and Canada. I don't trade trade balances, not now. I would skip it. No, I *WILL* skip it.
3. Thursday, September 11th, 2008 (6:45 p.m. New York Time) NEW ZEALAND
At 6:45 p.m. we will have Retail Sales m/m out of New Zealand. This is only one tradable report for today. This can be tradable with 0.8 trigger but because spreads might be wider, I would recommend to use 1.0 trigger here. It is expected to come out at -0.3%. If it comes out at 0.7% or higher, I would buy NZD/USD and expect 35 pips move. If it comes out at -1.3% or more negative, I would sell NZD/USD and expect 35 pips move as well. If you have a broker with fixed spread, you may try 0.7 or 0.8 triggers but be very careful.
This would be all for Thursday.
TRADE LIVE WITH SIR PIPS FOR FREE!
Sirpipsalot 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 7-days FREE TRIAL. Go to Forex Diamonds to sign up for the FREE trial. This offer is for NEW customers only.
To Our Success!
-Crazy Cat
