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Forex Trading Signal 09/17/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Sep 17, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my forex friend :)

    Here is the hi-quality video:
    9-17-2008r-p.swf

    Let's review what happened on Tuesday.

    German ZEW deviated quite well, EUR/USD moved a little but it was not a big move - quite disappointing price action.

    UK CPI went the other way, as expected so if you applied my strategy, it worked pretty well.

    U.S. CPI on y/y numbers came out a bit lower but the m/m came out as expected. No trade here.

    The Fed did not cut the rates and the market was disappointed. EUR/USD or GBP/USD went down pretty well. However, it eventually went higher.

    Let's talk about Wednesday.

    1. Wednesday, September 17th, 2008 (4:30 a.m. New York Time) UK
    At 4:30 a.m. we will have UK Claimant Count Change as well as BOE Minutes. The BOE Minutes should not be a big deal so I think the Claimant Count Change might be more important here; however, be careful and don't put all your money on this trade. If it comes out at 30K, it would be bad for GBP and I would sell GBP/USD and expect 30 pips move. If it comes out at 15K or lower, it would be good for GBP and I would buy GBP/USD and expect 30 pips as well. It would be nice to get some help from the unemployment rate as well (higher number is bad for GBP, and lower number is good for GBP).

    2. Wednesday, September 17th, 2008 (8:30 a.m. New York Time) USA
    At 8:30 a.m. we will have housing starts and building permits. There is 50/50 chance the market will care about it. If the market ignores it, probably you will not lose a lot. But if the market cares, this might be an opportunity to scalp a few pips. On the Housing Starts I would buy USD/JPY if it comes out at 1030K or higher. If it comes out at 870K or lower, I would sell USD/JPY. If the trigger is hit, USD/JPY should move by 40 pips (50/50 chance).

    That would be all for Wednesday.

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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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