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Forex Trading Signal 12/09/08

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Dec 9, 2008.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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

    Here is Sir Pip's video:

    Let's talk about Tuesday.

    1. Tuesday, December 09, 2008 (4:30 a.m. New York Time) UK
    At 4:30 a.m. we will have UK Industrial Production m/m which is expected to come out at -0.5. If the spread is low, this might be tradable if it deviates by -0.5 so it if comes out at -1.0 or more negative, GBP/USD may go down by 30 pips. If it comes out at 0 or positive, GBP/USD may go up by 30 pips or so. Keep in mind that there is also the trade balance coming out so there is always a possibility for a conflict. Also, exit quickly, especially if the number is bad.

    2. Tuesday, December 09, 2008 (5:00 a.m. New York Time) EURO ZONE
    At 5:00 a.m. we will have German ZEW which is expected to come out at -57.0. Last month a deviation of 10 moved EUR/USD by about 20 pips so I don't want to trade it with smaller deviation for sure. Also, trading against the spike might be the best strategy. If you see a spike of 20 to 25 pips, try to enter the other way (with a proper money management). If it comes -66 or lower, expect about 20 pips spike down on EUR/USD and then 100% retracement. If it comes out at -46 or less negative, then expect about 20 to 25 pips spike up and then a full retracement.

    3. Tuesday, December 09, 2008 (9:00 a.m. New York Time) CANADA
    At 9:00 a.m. we will have Canadian Interest Rate statement. It is expected they will cut the rates from 2.25% to 1.75%. 20 out of 23 economists expect 50 bp cut but unfortunately interest rate statements are not hot anymore. If they cut the rates to 1.5% or lower, then AFTER the initial spike up be prepared to sell USD/CAD. If they cut the rates to 2.00%, AFTER the initial spike down, you may try to buy USD/CAD and expect 40 pips move.

    That's all for today.

    Please watch the video for the market analysis which is presented right after news trading analysis.

    Stay safe, make a lot of pips, and have a great trading day!

    To Our Success!
    -Crazy Cat && Sir Pip

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