Sir Pipsalot's Monday Market Update 04-19-2010

Sir Pipsalot

Former FPA Special Consultant
Hey folks,

Just a quick update today. Big news Friday about Goldman Sachs in trouble with the SEC really jolted the markets, and it might just be enough to send things into more of a sustained tailspin. Look for a more clear break below 1184/85 on S&P futures to be the first layer of confirmation that a 100+ point drop is at hand. On the EUR/USD, we've pulled back to fill the gap, and on GBP/USD we gapped down this weekend. I like both pairs for a buy on the dip and I think both are worth a buy right now at 1.3465 and 1.5242 respectively. A 50 pip SL should be pretty efficient (if they drop much more than that, I'm probably wrong).

In news Monday:

1845 NZ CPI q/q (0.6% expected) - This report has done well over the past few quarters, and the 1845 release time is more attractive than at 1645. Just make sure there isn't a conflict with the y/y figure (2.3% expected).
If it comes out at 0.8% or higher, NZD/USD should rally 40 pips.
If it comes out at 0.4% or lower, NZD/USD should fall 40 pips.

That's all for today's update. If you'd like to learn more about trading or trade along with myself and my collegues, come join us at Profit Mongers. Our subscription is very reasonable at $179 per month, and right now you can sign up for a 2 week trial to get started for only $29. This offer is for new customers only. If you have any questions, you can also email me at

To our success!
Sir Pipsalot

Mark Harding

airports closed


Do you think that the closure of all the airports in Europe because of the volcano (Iceland again!) will weigh on the euro?

Best regards

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