Forex Trading Signal 06/27/08

Forex Trading Signal 06/27/08 - Today, 03:30 AM
Hi there my forex friend

Finally we have Friday! So far it was a quite slow week, except Monday with a great IFO report. Oh, thank you for all the feedback regarding the test of performance I was doing two days ago.

Let me just quickly review what happened on Thursday. It is actually very simple: the U.S. GDP and Initial Jobless Claims came out very close to expectations so we did not get any trade here. Same applies to the homes sales.

At 6:45 p.m. we had the trade balance and GDP out of New Zealand. The GDP came out as expected but the trade balance deviated quite a bit but NZD/USD still was not tradable. That was good to stay away from the trade balance. No trade here.

Just for your record, we also had Japanese CPI, we had some good deviations and totally no reaction on the market. That's why I even did not mention about it in my signals.

On Friday we are going to have only one report that might be tradable.

1. Friday, June 27th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK GDP q/q final revision so this is unlikely to have a big deviation. Everyone is expecting it to come out at 0.4% so even 0.1 deviation should be tradable. If it comes out at 0.5% or higher, I would buy GBP/USD and expect 30 pips move. If it comes out at 0.3% or lower, I would sell GBP/USD and expect 30 pips move as well. With 0.2 deviation you may expect 50 pips move.

2. Friday, June 27th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have a lot of data out of U.S. I am going to skip all of them. No triggers here but if you want to know more details about it, please watch the video.

3. Friday, June 27th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Consumer Sentiment but this is a final revision so it is not tradable. Stay away from it.

That would be all for Friday.

Thank you and good luck with your trades.

To Our Success!