Hot Forex Signal (Fri, June 25, 08:30 am EST) US Annualized GDP

On Friday, June 25th at 08:30 am New York Time we will have US Annualized GDP coming out. This is the third reading so it does not move as much as it was the first reading. In any case, it is expected to read 3.0. Last time it read 3.0 as well.

Please read what this indicator means and how it affects the USD/JPY by going to this link: US GDP Annualized

The trigger for this indicator is 0.6. This means that if US Annualized GDP comes out at 3.6 or higher, USD/JPY will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at 2.4 or lower, USD/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.

Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

In addition to the Annualized GDP number, we will have Core PCE and GDP Deflator coming out. Both of them measure prices and thus are inflationary indicators. If they conflict, I recommend skipping the trade but most likely there will be no conflicts.

For example: on December 22nd, we had the third reading coming out. The annualized GDP came out at 2.2, versus an expectation of 2.8. USD/JPY went down by about 30 pips although it did not hit my trigger.

You can read more here : Forex Signals Every Day

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Forex Signal – Intraday 24 th June

EUR/USD intraday: the upside prevails.

Pivot: 1.2275
Most Likely Scenario: LONG positions @ 1.2285 with targets @ 1.2355 & 1.241.
Alternative scenario: The downside penetration of 1.2275 will call for 1.221 & 1.216.
Comment: the pair has broken above its declining trend line and is challenging its new resistance, a pull back should not be ruled out ahead of a further up move.

GBP/USD intraday: bullish bias above 1.49

Pivot: 1.4900
Most Likely Scenario: LONG positions @ 1.491 with targets @ 1.5 & 1.507.
Alternative scenario: The downside breakout of 1.49 will open the way to 1.485 & 1.48.
Comment: the pair has broken above its resistance and remains within a bullish channel.

USD/JPY intraday: the downside prevails

Pivot: 90.10
Most Likely Scenario: SHORT positions @ 90.05 with 89.7 & 89.5 in sight.
Alternative scenario: The upside breakout of 90.1 will open the way to 90.3 & 90.65.
Comment: the pair remains within a bearish channel, the RSI is on the downside.

AUD/USD intraday: intraday support around 0.867

Pivot: 0.867
Most Likely Scenario: Long positions above 0.867 with targets @ 0.881 & 0.886 in extension.
Alternative scenario: Below 0.867 look for further downside with 0.861 & 0.858 as targets.
Comment: the pair is breaking above its bearish channel upper boundary and should reach its previous high.

GOLD (Spot) intraday: under pressure

Pivot: 1252.00
Most Likely Scenario: SHORT positions below 1252 with 1225 & 1214 in sight.
Alternative scenario: The upside breakout of 1252 will open the way to 1265 & 1275.
Comment: quotes have pushed below their rising trend line. The 30 min RSI is on the downside.

Crude Oil (Aug 10) intraday: bullish bias above 74.6

Pivot: 74.60
Most Likely Scenario: LONG positions @ 75.4 with 78 & 80 as next targets.
Alternative scenario: The downside breakout of 74.6 will open the way to 72.8 & 71.
Comment: quotes have struck against their 50% fib retracement level @ 75.40. The RSI has just broken above a declining trend line.

You can read more here : Forex Signals Every Day

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Hot Forex Signal (Wed, June 23, 08:30 am EST) Canadian Core Retail Sales

On Wednesday, June 23rd, at 08:30 am New York Time we will have Canadian Core Retail Sales m/m coming out. It is expected to read 0.0. Last month it read 1.7.

This is not a big mover, and for now I typically skip this report. This is not a reliable report to trade so be warned…

If you want to trade it, the trigger for this indicator is 1.2. This means that if Canadian Core Retail Sales m/m comes out at 1.2 or higher, USD/CAD will probably go down by 30 pips or more in the first 45 minutes of the report. If it comes out at -1.2 or more negative, USD/CAD will probably go up by 30 pips or more in the first 45 minutes of the report.

Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

In addition to the Canadian Core Retail Sales m/m number, we will have regular Canadian Retail Sales m/m coming out. If they conflict, I recommend skipping the trade, but usually they don’t conflict, since core retail sales is part of regular retail sales, except it doesn’t include volatile items such as energy and food.

For example: on May 21, Canadian Core Retail Sales m/m came out at 1.7, versus an expectation of 0.4. USD/CAD spiked down by about 30 pips. It was kind of crappy report to trade.

I hope you make some money on this report but be extremely careful.

You can read more here : Forex Signals Every Day

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Hot Forex Signal Canadian Core CPI

Forex Signals Every Day

On Tuesday, June 22nd (07:00 am New York Time) we will have Canadian Core CPI m/m coming out. It is expected to read 0.3. Last month it read 0.3 as well.

The trigger for this indicator is 0.2. This means that if Canadian Core CPI m/m comes out at 0.5 or higher, USD/CAD will probably go down by 35 pips or more in the first 45 minutes of the report. If it comes out at 0.1 or lower, USD/CAD will probably go up by 35 pips or more in the first 45 minutes of the report.

Two months ago it actually worked really nice. It came out at -0.2 vs. 0.1 expected, and USD/CAD spiked up by 45 pips. But still be careful as not long time ago it had really random price actions.

I hope you will not lose money on this report.

You can read more here : Forex Signals Every Day

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Hot Forex Signal (Thu, June 17, 08:30 am EST) US Core CPI m/m

Forex Signals Every Day

On Thursday, June 17th (08:30 am New York Time) we will have US Core CPI m/m coming out. It is expected to read 0.1. Last month it read 0.0.

I don’t trust this indicator yet. CPI indicators start to be more important but we did not have a bigger deviation on this for a while so I cannot say if this one is going to work well or not yet.

The trigger for this indicator is 0.3. This means that if US CPI m/m comes out at 0.4 or higher, USD/JPY will probably go up by 30 pips or more in the first 45 minutes of the report. If it comes out at -0.2 or more negative, USD/JPY will probably go down by 30 pips or more in the first 45 minutes of the report.

A deviation of 0.3 should be relatively safe to trade but nevertheless feel free to skip it if you don’t feel like you want to trade it.

On February a deviation of -0.2 produced a move of about 20 pips so it’s kind of encouraging it reacted at all. It’s still not enough, in my opinion, to take it seriously and trade +/- 0.2 deviation.

I hope you make some money on this report.

You can read more here : Forex Signals Every Day

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