Signal for July 9th

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The USD Pending Home Sales report came out at -4.7 which of course triggered our signals for a sell on USDJPY. It went down for only 16 pips. The 5 Minutes Trader did not do well with this as we recorded a loss of 5 pips.

Let us now review what to watch and probably trade on Wednesday July 9.

Time: 12:50. Event: JPY Core Machinery Orders m/m.

Previous: 5.5. Forecast: 1.1.

Recommendations: Buy USDJPY if actual is 4.1 or higher for 20 pips.

A sell signals here may not do so well. However, I will sell if actual is -3.1 or more negative for 10 or 15 pips. This is a slow mover so do not be in a hurry.



Time: 2:30am. Event: AUD Home Loans m/m.

Previous: -3.0%. Forecast: -2.0%.

Recommendations: Buy AUDUSD if actual is -1.5% or less negative for 15 to 20 pips.

Sell AUDUSD if it is -2.5% or more negative.

Time: 9:30am. Event: GBP Trade Balance.

Previous: -7.6B. Forecast: -7.4B.

Recommendations: Buy GBPUSD for 30 pips or more if actual is -7.3B or less negative.

Sell GBPUSD if it is -7.5B or more negative.



Time: 1:30pm. Event: CAD Housing Starts m/m.

Previous: 221K. Forecast: 217.5K.

Recommendations: Buy USDCAD if actual is 192.25 or lower and expect up to 30 pips move although we might notice an initial downward move before it heads upward.

Sell USDCAD if actual is 242.5 or higher for 30 pips. If in 5 minutes it hasn’t exceeded 30pips take your profits and exit. You may use 10 pips Stop Loss with the 5 Minutes Trader.
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