Hi there
This is Crazy Cat, with the review of the week.
This week, we were watching 5 economic indicators and only 2 of them hit the trigger.
1. Tuesday, June 15th (05:00 New York time) GE ZEW
I expected EUR/USD to come down if it came out 36.5 or lower. It actually came out at 27.5 which is one of the biggest deviations I ever saw. We saw a move of about 40 pips on EUR/USD although I must admit that most of it was a instant spike that you could only trade with news trading software. Since this indicator is weak in general, the market played the reversal game on it as soon as EUR/USD lost so much. It's hard to say if it was a good or bad report - it all depends on how you trade the news.
Here is the chart:
Forex news trading currency exchange charts
2. Thursday, June 17th (04:30 New York time) UK Retail Sales
It came out at 0.5 or 0.6 according to other sources. It actually deviated by 0.5 for me so I got a small trade on this. Initially GBP/USD moved up by 35 pips but later on it moved even higher. I know a few people who got long on a retracement around 1.4730 and made good money on this report. For me it was just a dozen pips on the spike.
I hope you made some money on this report. It was hard to lose since GBP/USD was going higher and higher.
Here is the chart:
Forex news trading currency exchange charts
Have a nice Sunday!
-Crazy Cat
This is Crazy Cat, with the review of the week.
This week, we were watching 5 economic indicators and only 2 of them hit the trigger.
1. Tuesday, June 15th (05:00 New York time) GE ZEW
I expected EUR/USD to come down if it came out 36.5 or lower. It actually came out at 27.5 which is one of the biggest deviations I ever saw. We saw a move of about 40 pips on EUR/USD although I must admit that most of it was a instant spike that you could only trade with news trading software. Since this indicator is weak in general, the market played the reversal game on it as soon as EUR/USD lost so much. It's hard to say if it was a good or bad report - it all depends on how you trade the news.
Here is the chart:
Forex news trading currency exchange charts
2. Thursday, June 17th (04:30 New York time) UK Retail Sales
It came out at 0.5 or 0.6 according to other sources. It actually deviated by 0.5 for me so I got a small trade on this. Initially GBP/USD moved up by 35 pips but later on it moved even higher. I know a few people who got long on a retracement around 1.4730 and made good money on this report. For me it was just a dozen pips on the spike.
I hope you made some money on this report. It was hard to lose since GBP/USD was going higher and higher.
Here is the chart:
Forex news trading currency exchange charts
Have a nice Sunday!
-Crazy Cat
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