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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-Crazy Cat && Sir Pip
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.
TRADE LIVE WITH SIR PIPS FOR $27.00 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 $27.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.
To Our Success!
-Crazy Cat && Sir Pip
