Today - FX Trading Signals
Okay, so yesterday we had an EXCELLENT trade on the UK trade balance. It came out hitting my short signal, and the GBP/USD dropped by around 50 pips slowly and steadily, without retracing much.
Here is what's happening today.
1. Wednesday, October 11th, 2006 (2:00 pm New York Time) USA
Tomorrow, we have only one tradable report according to my standards. And that's FOMC meeting minutes at 2:00 pm NY Time. Basically, there is only one thing I will be looking in that report, and one thing only. Is the U.S. planning to do another rate hike? If that's confirmed or mentioned, GBP/USD may possibly drop by about 50 pips or more, since a rate hike would be positive for the dollar.
2. Wednesday, October 11th, 2006 (9:30 pm New York Time) AUSTRALIA
We have employment change coming out of Australia. Expected number is at approximately 5K. If the number comes out at 25K or higher, AUD/USD may possibly increase by 30 pips or more. If the number comes out at -10K or more negative, AUD/USD may possible decrease by 30 pips or more.
Here is what's happening today.
1. Wednesday, October 11th, 2006 (2:00 pm New York Time) USA
Tomorrow, we have only one tradable report according to my standards. And that's FOMC meeting minutes at 2:00 pm NY Time. Basically, there is only one thing I will be looking in that report, and one thing only. Is the U.S. planning to do another rate hike? If that's confirmed or mentioned, GBP/USD may possibly drop by about 50 pips or more, since a rate hike would be positive for the dollar.
2. Wednesday, October 11th, 2006 (9:30 pm New York Time) AUSTRALIA
We have employment change coming out of Australia. Expected number is at approximately 5K. If the number comes out at 25K or higher, AUD/USD may possibly increase by 30 pips or more. If the number comes out at -10K or more negative, AUD/USD may possible decrease by 30 pips or more.
posted by Naveen Pantera at 9:08 PM
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