FX TRADING STRATEGY FOR NOV 06
Here is what's going on today.
1. Monday, November 6th, 2006 (4:30 am New York Time) UK
We have Industrial and Manufacturing Production report coming out of the UK. UK is probably the country that cares about their industrial production report more than any other country out of the 6 majors. Industrial Production report will be my main focus. It's expected somewhere between 0.3% and 0.4%. If it comes out at 0.6% or higher, I may possibly go long on GBP/USD. If it comes out at 0.1% or lower, I may possibly go short on GBP/USD. Expectations would be from 30 to 50 pips, we'll have to see how the pair behaves throughout London Session today before the report, since it'll be the first session after Non-Farm payroll. If you have your own fast news service, you may possibly go long or short according to my triggers or your own triggers. Just make sure the manufacturing production doesn't conflict too much. If it does, exit the trade and just see what happens.
1. Monday, November 6th, 2006 (4:30 am New York Time) UK
We have Industrial and Manufacturing Production report coming out of the UK. UK is probably the country that cares about their industrial production report more than any other country out of the 6 majors. Industrial Production report will be my main focus. It's expected somewhere between 0.3% and 0.4%. If it comes out at 0.6% or higher, I may possibly go long on GBP/USD. If it comes out at 0.1% or lower, I may possibly go short on GBP/USD. Expectations would be from 30 to 50 pips, we'll have to see how the pair behaves throughout London Session today before the report, since it'll be the first session after Non-Farm payroll. If you have your own fast news service, you may possibly go long or short according to my triggers or your own triggers. Just make sure the manufacturing production doesn't conflict too much. If it does, exit the trade and just see what happens.
posted by Naveen Pantera at 8:13 PM
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