Signal for July 31th

Hello dear trader and welcome to Toozealous-Forex-Corner News Trading Signals Service from the desk of Ifeanyi Uche. This service is absolutely FREE and is guaranteed to make up to 150 pips per week trading only news events.

All time is Local Nigerian Time (GMT+1).

Wednesday we watched 2 events. AUD Building Approval did not trigger our signals as the news came out at -0.7%. But USDJPY went up by 30pips in the first 5 minutes but in all it did over 30pips in 30 minutes. ADP Non-Farm Employment Change came out at 9. This is a pointer to what we should be expecting at 1:30pm on Friday when the Non-Farm Payroll will be released, the only challenge with the Unemployment Rate that will be released at the same time.

Let us now review the events for Thursday July 31 2008.

Time: 2:30am. Event: AUD Retail Sales m/m.

Previous: 0.7%. Forecast: 0%.

Recommendations: Buy AUDUSD if actual is 0.2% or higher for 30 pips or more in the first minute.

Sell AUDUSD if actual is -0.2% or more negative for 30 pips or more. Although this can pull up to 40pips I will only target 20 to 30pips.

The Trade Balance will also come out at the same time but it is a slow market mover.

Time: 7:00am. Event: GBP Nationwide HPI m/m.

Previous: -0.9%. Forecast: -1.2%.

Recommendations: Buy GBPUSD if actual is -0.6% or less negative for 30 pips or more in the first 15 minutes.

Sell GBPUSD if actual is -1.8% or more negative.

There are other events from Canada and US at 1:30pm: GDP. But they are not worth my time.

Have a profitable trading day and to your success!