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Forex Trading Signal 09/24/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Sep 24, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there my Forex friend :)

    Hi-Quality Preview/Review:
    1) 9-24-2008r-p.swf

    Let's first review what happened on Tuesday.

    We only had Canadian CPI. It did deviate by 0.2 but I am not sure if the strategy worked well. The spike was close to 20 pips but it was so fast that I am not sure if everybody was able to make money on it. But at least the price moved the way we predicted.

    Let's talk about Wednesday.

    1. Wednesday, September 24th, 2008 (4:00 a.m. New York Time) GERMANY, EURO ZONE
    At 4:00 a.m. we will have German IFO Business Climate coming out. It is expected to come out at 94.3 and I think this might work pretty well if we get a nice deviation. Last month we had over 100 pips move on EUR/USD in less than 10 minutes. If it comes out at 93.0 or lower, I would sell EUR/USD and look for 40 to 50 pips move in the first 30 minutes. If it comes out at 96.0 or higher, this should be enough to buy EUR/USD and look for 40 to 50 pips move as well. Probably smaller deviation would work ok with SNW but due to market conditions and recent focus on failing banks and other financial corporations, I would be extra careful.

    2. Wednesday, September 24th, 2008 (8:00 a.m. New York Time) NORWAY
    At 8:00 a.m. we will have Norway Interest Rate statement. NOK is not easy to trade because spreads are high and sometime reports are leaked or not translated to English fast enough to enter at decent price level. If you want to trade it, go ahead. It is expected they will hold the rates at 5.75% but one economist is expecting them to hike the rates. If they do hike the rates, you can sell EUR/NOK and expect 400 to 500 pips move. If they cut the rates, you can buy EUR/NOK and expect a few hundred pips move as well. Keep in mind that the value of each pip is significantly lower than you were trading GBP/USD, for example, so 500 pips move on EUR/NOK is not as big as some people would think it is.

    3. Wednesday, September 24th, 2008 (10:00 a.m. New York Time) USA
    At 10:00 a.m. we will have U.S. Existing Home Sales coming out. It is expected to come out at 4.94 M. Housing indicators lost market focus recently so this is not a clear opportunity. If it comes out at 4.8 M or lower, probably it would be bad enough number to sell USD/JPY and expect 30 pips move. If it comes out at 5.1 M or higher, I should be good enough to buy USD/JPY and expect 30 pips move as well. But again, don't go crazy with this report.

    This 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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