Forex Trading Signal 12/02/08

Crazy Cat

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

Let's first review what happened on Monday.

Well, the only interesting thing was the Australian Interest Rate statement. They did cut the rates by more than expected: by 100 bp versus 75 bp expected. AUD/USD initially went down but less than I would expect it to go, and then it reversed, as expected. If you traded against and you decided to enter 25 pips below prerelease as the spike stopped there, and you are a king. I was not that lucky. In fact, I lost some money on the spike (closed half break even and the other half with some loss). Well, that's the part of the game but we need to move on.

Let's talk about Tuesday.

1. Tuesday, December 2nd, 2008 (7:30 p.m. New York Time) AUSTRALIA
The only one tradable report is Australian GDP q/q. This should be tradable with 0.2 trigger; in fact, 0.1 trigger last time moved AUD/USD down a little bit. 0.2 may work, 0.3 should be really good. It is expected it will come out at 0.2. If it comes out at 0.4, AUD/USD should go up by 35 pips or so (but expect retracements). If it comes out at 0.0, I would sell AUD/USD and expect 35 pips move as well.

That's pretty much all for tomorrow. I am sorry for the late email but on the other hand the Australian report is Tuesday evening so there is a lot of time to read it.

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To Our Success!
-Crazy Cat && Sir Pip
 

Teresa

Private
Messages
14
Sir Pips Videos?

Is Sir Pips not doing videos anymore? Getting his fundamental and longer term perspective is the only reason I visit this site.
 

Pharaoh

Colonel
Messages
19,722
I suspect that Sir Pips may be suffering from Post Turkey Consumption Stress Syndrome. He'll probably be back to normal in a day or two.
:D
 
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