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Forex Trading Signal 10-02-2009

Discussion in 'Current Forex Trading Signals' started by Sir Pipsalot, Oct 2, 2009.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Hey folks,

    We got some nice, favorable price action towards USD strength, silver weakness, and significant stock market weakness today in line with our position trade trends. We're not out of the woods yet, particularly on the USD, but things look materially improved compared to the last couple of days. Short term the picture still isn't completely clear to me since the EU and GU have been pretty well supported over the last 12-18 hours, so I'll refrain from giving a shorter term bias heading into NFP in the morning for now.

    Stocks had an incredible down day registering 27 points down on the S&P. Again, I'm aggressively short stocks both medium term and long term, so look at any decent rallies as potential opportunities for swing trade shorts as well. Friday's action will be largely dependent upon NFP and if anything is looking to recover some of yesterday's losses with a modest rally.

    In news Thursday we saw UK Manufacturing PMI and the US data come out too close to expected for a clear trade. In news Friday:

    0200 UK Nationwide House Prices m/m (0.7% expected) - Typically you might get a pretty decent reaction on GBP/USD with a 1% deviation, but it hasn't responded particularly well lately with +1.1% deviations in back to back months essentially being ignored. I'd recommend skipping it.

    0830 US NonFarm Payrolls (-175K expected) - Look out for a revision to the prior month's -216K and take that into account along with the deviation from this month's number to gauge the overall surprise. Also, if the unemployment rate comes in better or worse than expected by 0.2% (9.8% expected) that will factor in just as much. If we get a clear positive or negative surprise, USD/JPY should be a fairly steady trade, while EUR/USD will likely swing one way, then reverse 5-15 minutes later. This is not a guarantee, but it's been happening pretty consistently lately, so that's what I'm looking for. If the numbers are mixed or close to expected, a EUR/USD reversal may still work out, but I'd stay out of the USD/JPY
    If it comes out at -100K or higher, EUR/USD should rally, then turn south while USD/JPY rallies.
    If it comes out at -250K or lower, EUR/USD should fall, then possibly turn higher while USD/JPY falls.
     
  2. santam710

    santam710 Recruit

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    How about selling GBP VS USD ?

    Hello,

    I have just opened a trade on selling GBP VS USD

    AT 1.5935

    TP 15860

    SL 1.5985
     
  3. Real Managers

    Real Managers Banned again

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    If am right, I think Eur/Jpy should also be considered too. The price do move twice of usd/jpy on non-farms.
     
  4. yiehom

    yiehom Private

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    Which pair to play?

    Don't forget the orient express, the Pound yen.
     
  5. santam710

    santam710 Recruit

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    Trade Gbp Vs Usd

    Hurrah:)

    The above mentioned trade has been successfull

    SELLING GBP VS USD..........

    Its due to all the advice that i have been following 4rm SIR PISALOT

    I am improving day by day in technical predictions......................
     
  6. omerosa

    omerosa Recruit

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    eur usd

    what about eur usd to day
     
  7. mechtech63

    mechtech63 Corporal

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    Yes, currently sitting at 1.4600 and wondering which way it is going to go. I'm guessing down and have done a few trades to add 7% more to the account. May put another in before the close today.
     
  8. M.Nazri

    M.Nazri Private, 1st Class

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    mee too...:)heeeeee....but only 4% of my account.....and now its getting better
     
  9. Hossein

    Hossein Recruit

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    Hello Pipsalot,first i wanna say thanks for your advise.how can i use TRADE LIVE & pay for it as you said.



    TRADE LIVE WITH SIR PIPS FOR $39.00 FOR 2 WEEKS
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    Sir Pipsalot
     

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