Hi there my Forex friend
Yes, we can! What a day, it seems Obama won and he is going to be the 44th President of the United States.
I had the opportunity to join Obama rally in Chicago downtown and although I did not have tickets, there was plenty of space where people could see and hear what was going on.
Although I do not want to enter a politician debate here, I got a few thoughts I would like to share with you. Quite honestly, I do not believe that this election will change America significantly in a short run (certainly not in the next few months), but it seems it had a lot of importance to ordinary Americans (at least in Chicago) who seem to be sick and tired of current wars, all that terrorist BS, and the rapidly going down U.S. economy. From the crowd I could hear the anger about Iraq war, so many people seriously angry about it, and every time they displayed Mc Cain or any republican, some people could not resist to shout out some vulgar words addressed to them. Quite honestly, it was quite a surprise for me. I looked at what people texted on their cellphones right after CNN announced that Obama would be the next U.S. President, and someone wrote: "I am happy that I will be less ashamed that I am an American." Indeed, these are very powerful words because as far as I remember 8 years ago Americans were very proud of them (in positive meaning) and had more friends than enemies.
I am not saying he is going to be a good or bad president, I am just saying how people reacted; and since he was chosen, I wish him and America all the best.
Anyway, let's go back to the business.
There is nothing to review from Tuesday because we did not have anything tradable on Tuesday.
If you missed yesterday's signal, here is how we trades Australian Interest Rate:
110308_AustralianIR.swf
Let's talk about Wednesday.
First of all, here is Sir Pip's video with Forex analysis:
11-05-2008.swf
1. Wednesday, Novermber 5th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have U.K. Services PMI and Industrial Production. Historically, the Services PMI is more important. If it comes out at 46.0, I would buy GBP/USD; if it comes out at 43.0 or lower, I would sell GBP/USD and expect 40 pips move. This is also assuming that the other reports are not conflicting but even if they are, UK Services PMI should be most important here.
2. Wednesday, Novermber 5th, 2008 (8:15 a.m. New York Time) USA
At 8:15 a.m. we will have ADP Employment Change. Because there is a big spread of expectations, we will need to use bigger trigger here. If it comes out at -180K or lower (more negative), this should be enough to sell USD/JPY and expect 40 pips move. If it comes out at -50K or less negative, or positive, this should be good enough to buy USD/JPY and expect 40 pips move.
3. Wednesday, Novermber 5th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have ISM Non-Manufacturing coming out. If it comes out at 49.5, this should be good enough to buy USD/JPY; if it comes out at 44.9 or lower, this should be enough to sell USD/JPY
4. Wednesday, Novermber 5th, 2008 (4:45 p.m. New York Time) NEW ZEALAND
At 4:45 p.m. we will have Employment Change out of New Zealand. If the Employment Change q/q comes out at -0.1 or 0.0 or positive, I would buy NZD/USD and look for 40 to 50 pips move. If it comes out at -1.1% or more negative, I would sell NZD/USD and expect 40 to 50 pips move as well. Keep an eye on the Unemployment rate, and don't forget that lower unemployment is good for the NZD and higher unemployment is bad for the NZD.
5. Wednesday, Novermber 5th, 2008 (7:30 p.m. New York Time) AUSTRALIA
At 7:30 p.m. we will have Australian Employment Change which is expected to come out at -10K. If it comes out at -25K or lower, I would sell AUD/USD and expect 40 pips move. If it comes out at 5K or higher, I would buy AUD/USD and expect 40 pips move as well. Ba careful, however, because we will also have Unemployment rate coming out and a conflict here can be deadly. In general, 0.2 deviation either way is a significant deviation that can move the market easily.
That would be all for Wednesday.
TRADE LIVE WITH SIR PIPS FOR $9.99 FOR 2 WEEKS!
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 Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To Our Success!
-Crazy Cat
Yes, we can! What a day, it seems Obama won and he is going to be the 44th President of the United States.
I had the opportunity to join Obama rally in Chicago downtown and although I did not have tickets, there was plenty of space where people could see and hear what was going on.
Although I do not want to enter a politician debate here, I got a few thoughts I would like to share with you. Quite honestly, I do not believe that this election will change America significantly in a short run (certainly not in the next few months), but it seems it had a lot of importance to ordinary Americans (at least in Chicago) who seem to be sick and tired of current wars, all that terrorist BS, and the rapidly going down U.S. economy. From the crowd I could hear the anger about Iraq war, so many people seriously angry about it, and every time they displayed Mc Cain or any republican, some people could not resist to shout out some vulgar words addressed to them. Quite honestly, it was quite a surprise for me. I looked at what people texted on their cellphones right after CNN announced that Obama would be the next U.S. President, and someone wrote: "I am happy that I will be less ashamed that I am an American." Indeed, these are very powerful words because as far as I remember 8 years ago Americans were very proud of them (in positive meaning) and had more friends than enemies.
I am not saying he is going to be a good or bad president, I am just saying how people reacted; and since he was chosen, I wish him and America all the best.
Anyway, let's go back to the business.
There is nothing to review from Tuesday because we did not have anything tradable on Tuesday.
If you missed yesterday's signal, here is how we trades Australian Interest Rate:
110308_AustralianIR.swf
Let's talk about Wednesday.
First of all, here is Sir Pip's video with Forex analysis:
11-05-2008.swf
1. Wednesday, Novermber 5th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have U.K. Services PMI and Industrial Production. Historically, the Services PMI is more important. If it comes out at 46.0, I would buy GBP/USD; if it comes out at 43.0 or lower, I would sell GBP/USD and expect 40 pips move. This is also assuming that the other reports are not conflicting but even if they are, UK Services PMI should be most important here.
2. Wednesday, Novermber 5th, 2008 (8:15 a.m. New York Time) USA
At 8:15 a.m. we will have ADP Employment Change. Because there is a big spread of expectations, we will need to use bigger trigger here. If it comes out at -180K or lower (more negative), this should be enough to sell USD/JPY and expect 40 pips move. If it comes out at -50K or less negative, or positive, this should be good enough to buy USD/JPY and expect 40 pips move.
3. Wednesday, Novermber 5th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have ISM Non-Manufacturing coming out. If it comes out at 49.5, this should be good enough to buy USD/JPY; if it comes out at 44.9 or lower, this should be enough to sell USD/JPY
4. Wednesday, Novermber 5th, 2008 (4:45 p.m. New York Time) NEW ZEALAND
At 4:45 p.m. we will have Employment Change out of New Zealand. If the Employment Change q/q comes out at -0.1 or 0.0 or positive, I would buy NZD/USD and look for 40 to 50 pips move. If it comes out at -1.1% or more negative, I would sell NZD/USD and expect 40 to 50 pips move as well. Keep an eye on the Unemployment rate, and don't forget that lower unemployment is good for the NZD and higher unemployment is bad for the NZD.
5. Wednesday, Novermber 5th, 2008 (7:30 p.m. New York Time) AUSTRALIA
At 7:30 p.m. we will have Australian Employment Change which is expected to come out at -10K. If it comes out at -25K or lower, I would sell AUD/USD and expect 40 pips move. If it comes out at 5K or higher, I would buy AUD/USD and expect 40 pips move as well. Ba careful, however, because we will also have Unemployment rate coming out and a conflict here can be deadly. In general, 0.2 deviation either way is a significant deviation that can move the market easily.
That would be all for Wednesday.
TRADE LIVE WITH SIR PIPS FOR $9.99 FOR 2 WEEKS!
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 Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To Our Success!
-Crazy Cat
Last edited: