FX Trading Signals for Feb 05
1. Monday, February 5th, 2007 (4:30 am New York Time) /9:30 GMT) UK
We have UK Services PMI coming out. This indicator measures services industryin the UK. Services is about 70 to 80% of UK GDP, however generally speakingthis report is not as important as manufacturing PMI. It's expected that thisnumber will come out at 60. If it comes out reading 57, it would be bad for thepound short term, and I may possibly go short on GBP/USD. If it comes out at 62or higher, it would be a very healthy reading above 60, and I may possibly golong on GBP/USD. It make take 20-25 minutes for the move to fully manifest. Iam expecting around 30 pips on this, if my triggers are hit.
2. Monday, February 5th, 2007 (10:00 am New York Time)/(1500HRS GMT) USA
Then we have ISM Non-Manufacturing report coming out of the U.S. This report isalso tracking the services industry in the US, and services is also a majorcontributor to the GDP. It's not nearly as important as its sister report ISMManufacturing, but it's also worth watching. It's expected thatNon-Manufacturing will come out at approximately 57. A reading of 55 or lowerwould probably be bad for US dollar short term, and I may possibly go long onGBP/USD. A reading of 59 or higher would be a very healthy reading andtherefore good for the dollar, so I may possibly go short on GBP/USD. If mytriggers are hit, I would also expect a move of around 30 pips on this one.
We have UK Services PMI coming out. This indicator measures services industryin the UK. Services is about 70 to 80% of UK GDP, however generally speakingthis report is not as important as manufacturing PMI. It's expected that thisnumber will come out at 60. If it comes out reading 57, it would be bad for thepound short term, and I may possibly go short on GBP/USD. If it comes out at 62or higher, it would be a very healthy reading above 60, and I may possibly golong on GBP/USD. It make take 20-25 minutes for the move to fully manifest. Iam expecting around 30 pips on this, if my triggers are hit.
2. Monday, February 5th, 2007 (10:00 am New York Time)/(1500HRS GMT) USA
Then we have ISM Non-Manufacturing report coming out of the U.S. This report isalso tracking the services industry in the US, and services is also a majorcontributor to the GDP. It's not nearly as important as its sister report ISMManufacturing, but it's also worth watching. It's expected thatNon-Manufacturing will come out at approximately 57. A reading of 55 or lowerwould probably be bad for US dollar short term, and I may possibly go long onGBP/USD. A reading of 59 or higher would be a very healthy reading andtherefore good for the dollar, so I may possibly go short on GBP/USD. If mytriggers are hit, I would also expect a move of around 30 pips on this one.
Labels: `
posted by Naveen Pantera at 6:27 PM
0 Comments:
Post a Comment
<< Home