Forex Trading Signal 08/08/08

Forex Trading Signal 08/08/08 - Today, 04:55 AM

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Hi there my Forex friend

Let's review what happened on Thursday first.

UK Halifax came out too close to expectations so it was a no trade.

UK and Euro interest rates came out as expected so no trades there as well.

Then we had Trichet speaking. EUR/USD went down a lot but please watch the video for more information.

We also had U.S. Pending Home Sales which came out better than expected. USD/JPY moved pretty well and I hope you made some money.

Let's talk about Friday.

1. Friday, August 8th, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian Employment coming out. It is expected to come out at 5K. I would use 15K trigger here. If it comes out at -10K or more negative, I would buy USD/CAD and look for 30 to 40 pips in the first few minutes. If it comes out at 20K or higher, I would sell USD/CAD and expect 40 pips move as well.

That's pretty much all for tomorrow.

Thank you and good luck with your trades.

To Our Success!