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Forex Trading Signal 11/2/09 (from Felix)

Discussion in 'Current Forex Trading Signals' started by Felix Homogratus, Nov 2, 2009.

  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    This is Felix writing. I am the founder of Forexpeacearmy.com and the originator of the FPA free trading signals. For a while Sir Pipsalot was replacing me, but I feel it’s time that I take the signals back into my hands :)

    Sir Pipsalot will continue posting his trading signals as well. You will be able to read them here: Sir Pipsalot's Daily Trading Signals

    As always, the first week of the month is usually very busy. This week we have interest rate statements coming out of 4 major countries. We have employment reports coming out of 3 major countries. We have retail sales, and a few other things.

    If you don’t know where to get live numbers for the economic reports mentioned above, you should consult with your forex broker. Most of them have news feeds built into their platform, so you can open it, and watch these numbers released live. The broker that definitely has the news feed is OANDA, The Currency Site: Foreign Exchange Services and Trading. If your broker doesn’t provide the numbers, you can always open a demo account with Oanda, and get access to their news feed this way.

    1. Monday, November 2nd (4:30 am New York Time) UK

    We are starting the day with Manufacturing PMI coming out of England. Last month, it came out at 49.5, and this month it’s expected to come out at 50.0. Click here to read what Manufacturing PMI means.

    If manufacturing PMI reads 49.5 or below, it will be bad for the British pound, so we will probably see GBP/USD drop by around 40 pips or more. If it reads 50.5 or above, it will be good for the British pound, so we will probably see GBP/USD go up by around 40 pips or more.

    For example, last month, on October 1st, economists expected this indicator to read 50.2, but the reading came out at 49.5. We saw GBP/USD drop 40 pips in the first minute, because it came out lower than expected. You can see the chart of what happened by clicking here.

    It might happen that the currency will start dropping so quickly that you won’t be able to get in. In this case, you can try to get in on the retracement, and still make money. Click here to read after-spike strategy for this report.

    2. Monday, November 2nd (10:00 am New York Time) USA

    At 10:00 am New York Time, we have ISM Manufacturing index coming out of the US. Last month, it came out at 52.6, and this month it’s coming out at 53.0. Click here to read what ISM Manufacturing means. At the same time, we have US pending home sales coming out of the US as well. Last month, it came out at 6.4, and this month it’s expected to come out at 0.4. Click here to read what Pending Home Sales report means.

    Both of these reports are important, so if there is a conflict, meaning that one comes out higher, and the other lower, I suggest staying out of the market, because the move is hard to predict. But if both reports come out better than expected, by at least 3 points combined, it will be good for US dollar, and we will probably see USD/JPY going up by around 30 pips or more. If they both come out worse than expected, by at least 2 points combined, it will be bad for US dollar, and we will probably see USD/JPY going down by around 30 pips or more.

    For example, on September 1st, ISM Manufacturing came out at 52.9 versus 50.5, and pending home sales came out at 3.2 versus 1.6. So ISM came out by 2.4 points better than expected, and Home Sales came out by 1.6 points better than expected, thus 2.4+1.6=4.0 points combined. Within the first few minutes, USD/JPY went up by around 35 pips. You can see the chart of what happened by clicking here.

    In case the currency drops so quickly that you are not able to get in and make money, you can read the after-spike strategy for this report by clicking here.

    3. Monday, November 2nd (22:30 New York Time)

    Then at 22:30 New York Time, we have interest rate statement coming out of Australia. Last month Australian government unexpectedly hiked the rate from 3.00% to 3.25%. And this month it is expected that they will hike it again from 3.25% to 3.50%. Click here to read what it means for the currency when Australian government raises its interest rates.

    On this one, it’s quite simple. If Australian government leaves the rate unchanged at 3.25%, we will probably see AUD/USD go down by around 80 pips or more. If for some reason, the rate is hiked by 0.50%, to 3.75%, then we will probably see AUD/USD go up by around 80 pips or more. If they hike as expected by 0.25%, I would stay out and do nothing.

    For example, last month, it was expected that the rate would stay unchanged at 3.0%, but Australian government hiked it to 3.25%. In the first 6 minutes, we saw AUD/USD go up around 85 pips. You can see the chart of what happened by clicking here.

    In case the currency drops so quickly that you are not able to get in and make money, you can read the after-spike strategy for this report by clicking here.

    This is all I have to say about Monday, November 2nd :) I hope you make some money with this information, and I will write to you again tomorrow, about Tuesday, November 3rd.

    Please Have a Happy Day :)
    -Felix
     
  2. Felix Homogratus

    Felix Homogratus Commander in Chief

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    UK PMI Chart

    [​IMG]
     
  3. Felix Homogratus

    Felix Homogratus Commander in Chief

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    US ISM Chart

    [​IMG]
     
  4. Felix Homogratus

    Felix Homogratus Commander in Chief

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    AUS Interest Rate Statement Chart

    [​IMG]
     
  5. Real Managers

    Real Managers Banned again

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    Welcome BACK, my OGA: meaning my master.

    5years ago, (am also an old FOREXBASTARD) you made me what I am today. please PM me wit a phone number to reach you, I got a very important info for you Mr. Felix.

    Ben Oyeyemi
     
  6. ForexGiant

    ForexGiant Recruit

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    Hi Felix

    Thank you very much for making this valuable information to members. It is a well laid out and nicely researched info.
    I am a newbie in Forex Trading and I hope to benefit from your assistance.

    Thanks a lot and have a nice week

    ForexGiant
     
  7. jhhloke

    jhhloke Recruit

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    Hi Felix,

    I have been following the FPA daily signal by Sir Pipsalot for the past 6 months and have found it to be helpful. I have just read your column today and I want you to know that I think it is great! The way you write makes it easy for a newbie like me to follow and understand what can be expected. I look forward to read more of what you write. Thanks.
     
  8. forexbullet

    forexbullet Recruit

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    The Pioneer is back

    well well well, mr felix is back.The true pioneer of these signals has been dearly missed.Felix you are the reason why i trade these signals and i think it's good for people to acknowledge your work over the years.I would love you to start the video signals again like u did back a few years ago if this is possible.I know sirpipsalot has done a great job but must say that you are the master of these signals and people who have been around forex a while will know what i'm talking about.

    Good work
     
  9. dancingphil

    dancingphil Recruit

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    I'm extremely impressed with reading your first post (though from other comments it is clear you are an old master).

    I've made a truckload from Sirpips in the last few months, and will continue to follow him, however, after reading your first post you have taken the quality of explanation to a whole new level.

    I am thoroughly impressed by the educational value of your post. I am not just getting great insights on how to trade, I am learning tremendously in the process.

    Now I have 2 mentors to guide me. DAMN I love forex trading!
     
  10. bdux97

    bdux97 Recruit

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    :) nice to see you back,i ll be following daily.Important question:through which trader I should follow? THKS
     

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