FX Trading Signals for Feb 14
1. Wednesday, February 14th, 2007 (8:30 am New York Time) USA
We have Retail Sales coming out of the U.S. for the month of January. We have two numbers...the headline number and the core number. My focus will be core number, also known as less autos number. It's expected that the number will come out at 0.4%. If it comes out at 0.8% or higher, it should be good for the dollar, so you can possibly go short on GBP/USD. If it comes out at 0.0% or lower, it would be bad for the dollar, so you can possibly go long on GBP/USD. Unless you are using Secret News Weapon or my Forex Diamonds paid membership, you probably won't be able to get in before the spike, because you'll get the news late. If that's the case, don't worry, if my trigger is hit, and there are no conflicts on headline number or revisions, and the price still hasn't moved by over 20 pips, you can just get in few second late, and hold to your position for around 5 minutes or less. If my triggers are hit, I would expect a move of at least 50 pips.
2. Wednesday, February 14th, 2007 (10:00 am New York Time) USA
Then we have Ben Bernanke speaking. Unfortunately since it's a speech, I can't give you specific instructions how to trade it. If you are not sure how to trade speeches, and you are not part of my forexdiamonds.com service, I suggest staying out of the markets from about 10:00 am to 10:30 am.
3. Wednesday, February 14th, 2007 (4:45 pm New York Time) New Zealand
Then we have Retail Sales coming out of New Zealand. We have three different numbers. We have the retail sales for the month of December, we have the Retail Sales less autos for the month of December, and we have quarterly retail sales, less inflation for the 4th quarter. In New Zealand, they don't care much about less autos like in the US. My focus will be on monthly headline number, which is expected to come out at around 0.7%. If the reading is 1.1%, it would be good for New Zealand dollar, and you can possibly go long on NZD/USD. If the reading is 0.2% or lower, it would be bad for New Zealand dollar, and you can possibly go short on NZD/USD. Just make sure the quarterly retail sales that are expected at 1.3% are not conflicting, and there are no conflicting revisions from previous month. If that's the case, and my triggers are hit, NZD/USD may move by 30 to 50 pips or more within about 30 minutes to 1 hour after the report.
4. Wednesday, February 14th, 2007 (6:50 pm New York Time) JAPAN
Then we have GDP report coming out of Japan. I would normally give you triggers for this report, but this month there are some special circumstances. The expectations are very mixed up, and with the annualized and quarterly numbers coming out at the same time, I would suggest staying out of this report, unless you really know what you are doing.
We have Retail Sales coming out of the U.S. for the month of January. We have two numbers...the headline number and the core number. My focus will be core number, also known as less autos number. It's expected that the number will come out at 0.4%. If it comes out at 0.8% or higher, it should be good for the dollar, so you can possibly go short on GBP/USD. If it comes out at 0.0% or lower, it would be bad for the dollar, so you can possibly go long on GBP/USD. Unless you are using Secret News Weapon or my Forex Diamonds paid membership, you probably won't be able to get in before the spike, because you'll get the news late. If that's the case, don't worry, if my trigger is hit, and there are no conflicts on headline number or revisions, and the price still hasn't moved by over 20 pips, you can just get in few second late, and hold to your position for around 5 minutes or less. If my triggers are hit, I would expect a move of at least 50 pips.
2. Wednesday, February 14th, 2007 (10:00 am New York Time) USA
Then we have Ben Bernanke speaking. Unfortunately since it's a speech, I can't give you specific instructions how to trade it. If you are not sure how to trade speeches, and you are not part of my forexdiamonds.com service, I suggest staying out of the markets from about 10:00 am to 10:30 am.
3. Wednesday, February 14th, 2007 (4:45 pm New York Time) New Zealand
Then we have Retail Sales coming out of New Zealand. We have three different numbers. We have the retail sales for the month of December, we have the Retail Sales less autos for the month of December, and we have quarterly retail sales, less inflation for the 4th quarter. In New Zealand, they don't care much about less autos like in the US. My focus will be on monthly headline number, which is expected to come out at around 0.7%. If the reading is 1.1%, it would be good for New Zealand dollar, and you can possibly go long on NZD/USD. If the reading is 0.2% or lower, it would be bad for New Zealand dollar, and you can possibly go short on NZD/USD. Just make sure the quarterly retail sales that are expected at 1.3% are not conflicting, and there are no conflicting revisions from previous month. If that's the case, and my triggers are hit, NZD/USD may move by 30 to 50 pips or more within about 30 minutes to 1 hour after the report.
4. Wednesday, February 14th, 2007 (6:50 pm New York Time) JAPAN
Then we have GDP report coming out of Japan. I would normally give you triggers for this report, but this month there are some special circumstances. The expectations are very mixed up, and with the annualized and quarterly numbers coming out at the same time, I would suggest staying out of this report, unless you really know what you are doing.
posted by Naveen Pantera at 1:02 PM
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