Forex Trading Signal 11/24/08

Crazy Cat

Former FPA Special Consultant
Messages
753
Hi there my forex friend :)

Today I do not have Sir Pip's video. Sorry.

Let's talk about Monday.

1. Monday, November 24th, 2008 (4:00 a.m. New York Time) GERMANY, EURO ZONE
At 4:00 a.m. we will have German IFO Business Climate which is expected to come out at 88.7. This report used to be hot and in August we had a huge reaction on over 2.0 deviation. Then on September the market ignore it at all and went the other way, and then on October there was some reaction. Well, I think this is worthy to give a try but I would like to see bigger trigger here. If it comes out at 90.7 or higher, I would buy EUR/USD and expect say 25 pips move. If it is going to move more, fine, but I would not expect more than 25 pips. In fact, even 25 pips seems to be a lot considering how it was performing past two months. If it comes out at 86.7 or lower, then I would sell EUR/USD and also expect 25 pips move at most.

Then at 10:00 a.m. we will have U.S. Existing Home Sales but I do not want to trade it. U.S. reports act weird recently, and I don't really want to trade them. If you really have to, you can set up a big trigger, especially on good number, and trade it just in case.

That's all for Monday.

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To Our Success!
-Crazy Cat && Sir Pip
 

rpaco

Sergeant
Messages
184
UK pre-budget report or normally a mini budget, however this year it is of vital importance to try and get retail sales going. It is widely predicted (leaked) that VAT will be cut from 17.5% to 15%. However unless the chancellor puts some money in peoples pockets the VAT cut alone will not do the necessary. Initial rise on UKX open today. I have predicted that cable will decline when it is seen that the package will not cure our troubles. BoE interest rate drop to come as well. Cable at 1.20 or lower in the next few days, maybe parity???
 
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