cosmopolit
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In news Thursday, there's one good trade worth watching:
1000 US Exisiting Home Sales (5.35M expected) - On a decent deviation, usually this can get the EUR/JPY and stocks cooking for a solid short to medium term move. Usually the move takes at least a few minutes to reach it's potential and on some pairs can create a nice trend for 30-60 minutes.
If it comes out at 5.50M or higher, EUR/JPY should rally 60+ pips.
If it comes out at 5.20M or lower, EUR/JPY should fall 60+ pips.
I just wonder how did you manage to pick up the only pair that will not react to the news
as expected: EUR/USD, GBP/USD, AUD/USD, NZD/USD all nicely moved down 60-80
pips after EHS went out at 5.10M, but only EUR/JPY moved in the opposite direction.
EUR and JPY both seem to be a little overbought, so the correct signal should have been:
if EHS comes out much better than expected -- buy USD/JPY,
if EHS comes out much worse than expected -- sell EUR/USD.
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