Forex Trading Signal 09/16/08

Forex Trading Signal 09/16/08
Hi there my Forex friend :)

Let's talk about Monday.

U.S. Empire Manufacturing came out much lower than expected but
the market did not care.

The RBA minutes came out a bit more neutral than expected, and the
price moved a little but probably it was more technical move than
fundamental.

Let's talk about Tuesday.

1. Tuesday, September 16th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK CPI m/m. This time probably it would be
better to trade against the number. If it comes out at 0.7% or higher,
you should expect a quick spike up, and once you see that, short GBP/USD.
If it comes out at 4.4% or lower, wait for the move down and go long (buy).

2. Tuesday, September 16th, 2008 (5:00 a.m. New York Time) GERMANY, EURO ZONE
At 5:00 a.m. we will have German ZEW Economic Sentiment which is expected
to come out at -53. This can move the market. If it comes out at -60 or
lower, I would sell EUR/USD or EUR/JPY, and look for 40 to 50 pips move.
If it comes out at -46 or less negative, I would buy EUR/USD or EUR/JPY
and expect 40 to 50 pips move as well.

3. Tuesday, September 16th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. CPI Core m/m. If it comes out at 0.3%,
expect EUR/USD going down and then reversing. If it comes out at 0.1%,
expect EUR/USD going up, and then reversing so you can sell on the spike.

4. Tuesday, September 16th, 2008 (2:15 p.m. New York Time) USA
At 2:15 p.m. we will have U.S. Interest Rate Statement. It is expected
it will comes out at 2.00% although a lot of people expects them to cut
the rates. If they leave the rates unchanged, probably it would make
a sense to sell EUR/USD. If they cut the rates by 0.25, probably buying
EUR/USD would be a good idea. If they cut the rates by 0.50, I would
aggressively buy EUR/USD and look for 100 to 150 pips move.

That would be all for Tuesday.

To Our Success!