Forex Trading Signal 07/18/08

Forex Trading Signal 07/18/08 - Today, 04:36 AM
Hi there my Forex friend

Let's first review what happened on Thursday.

At 8:30 a.m. all housing numbers came out much higher than expected. In first 15 minutes, USD/JPY moved by 40 pips. I hope you made a good money on this.

At 10:00 a.m. we had Philadelphia Fed Index which came out too close to expectations to trade it.

Let's talk about Friday.

1. Friday, July 18th, 2008 (2:00 a.m. New York Time) GERMANY, EURO ZONE
At 2:00 a.m. we will have German PPI. We had a pretty good move last month - 40 pips in first 40 minutes but eventually EUR/USD moved by 140 pips. If this comes out shocking, we might have a nice trade. I will be trading PPI m/m. If it expected to come out at 0.7%. If it comes out at 1% or higher, I would buy EUR/USD and expect 30 pips move although the move might be very slow. If it comes out at 0.4% or lower, I would sell EUR/USD and expect 30 pips move as well.

That's all for this week.

Thank you and good luck with your trades.

To Our Success!