Forex Trading Signal 11/03/08

Crazy Cat

Former FPA Special Consultant
Hi there my Forex friend :)

Sir Pips was unable to record a video for tonight so I have only written format to you.

On Monday there are two reports that are worthy mentioning.

1. Monday, November 3rd, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. ISM Manufacturing PMI. Because expectations are kind of wide on this report, I would use bigger triggers here. If it comes out at 39.0 or less, I would sell USD/JPY and expect 30 pips move. If it comes out at 43.5 or higher, I would buy USD/JPY and expect 30 pips move as well. This is not a killer report but if it is going to deviate, there might be some room to make a few pips.

2. Monday, November 3rd, 2008 (10:30 p.m. New York Time) AUSTRALIA
Then at 10:30 p.m. we will have Australian Interest rate. It is expected to come out at 5.50%, down from 6.00%. This is very early to say how to trade it because the expectations may change but it seems if it comes out at 5.75% or 6.00%, this would be good for the Australian dollar because they did not cut as much as it was widely expected so it would be buy signal for AUD/USD, and please take your profits rather quickly. I would be careful with +0.25 trigger, however, because it is still a cut on interest rates.. If it comes out at 5.50%, then it is hard to say how the price would react so it is no trade. If it comes out at 5.25% or lower, than it would be bad for the Australian dollar, and I would sell AUD/USD and expect 50 pips move. I would take profits rather quickly, just in case.

That would be all for Monday.

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 14-days $9.99 trial. Go to Error and take advantage of this offer. This offer is for NEW customers only.

To Our Success!
-Crazy Cat
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