Forex Trading Signal 04/09/08

Forex Trading Signal 04/09/08 - Today, 05:27 AM
Hi there my friend

Let's talk about the UK Industrial Production then.

1. Wednesday, April 9th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Industrial Production m/m coming out. It is expected it will came out 0.1%. Quite honestly, this is not my favorite report to trade. I will give a shot with 0.3 trigger either direction. Such trigger worked OK in the past but do not expect any crazy price movements either. It it comes out at 0.4% or higher, it should be good for the pound and I would buy GBP/USD and expect it to move around 35 to 40 pips in the first hour. On the other hand, if it comes out at -0.2% or more negative, it should be bad enough to take a speculative short trade on GBP/USD and also expect 35 to 40 pips move in the first hour. Pay attention to the other numbers as well. I would not expect the price to move too much if there are any conflicts so with this report I would either take a good signal or I would not trade it at all. Also, as always, pay attention to the price action right before the report as well as to important price levels that may hold the move.

2. Wednesday, April 9th, 2008 (9:30 p.m. New York Time) AUSTRALIA
Then at 9:30 p.m. we will have Australian Employment Change. We will update this signal before that trade and as soon as this signal is updated, we will send emails.

Anyway, enough talking. Thanks and come back before the Australian report.

God luck with your trades.

To Our Success!