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Forex Trading Signal 11/14/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Nov 14, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

    Sep 30, 2007
    Likes Received:
    Hi there my Forex friend :)

    Let's talk about Friday.

    At 8:30 a.m. we will have U.S. Retail Sales X Autos (Core). It is expected to come out at -1.2%. This is not as hot report as it used to be but we might see 30 pips spike on USD/JPY if it deviates by 0.5. Therefore, if it comes out at -1.7% or more negative, I would sell USD/JPY and expect 30 pips move; if it comes out at -0.7% or less negative, I would buy USD/JPY and expect 30 pips move as well. Do not trade it on other pairs than USD/JPY because currently it is tradable on USD/JPY only. I do not recommend trading against it because last month it would work whereas two months ago it did not work at all. That basically means that it can either move even more or retrace and go the other way. Probably right before the report we would have much clearer situation based on technicals what to do; I cannot tell you that now.

    Then at 9:55 a.m. we will have Consumer Sentiment. I am not going to trade this report. If anything, maybe a huge positive surprise would move USD/JPY, something like +10 deviation, but even that can be very risky. I am making enough money with more reliable reports so I am going to skip this one.

    That would be all for Friday.

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    To Our Success!
    -Crazy Cat && Sir Pips

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