Signals for July 15th

Hello dear trader and welcome to 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).

Sunday night we watched NZD Retail and Core Retail Sales reports. The reports were conflicting but weighed more on the Retail Sales negative outcome. NZDUSD went down by 31pips and quickly retraced. I know it was a tough one for many particularly if you did not trade with TP or Trailing Stop.

GBP PPI input at 9:30am Monday came out at 2.1 and did not trigger our signals. But GBPUSD still went down by 26pips. Then we had the NZD CPI q/q report which came out at 1.6% but there was a serious whipsaw that made it unprofitable.

Now let us review what to expect on Tuesday July 15 2008.

Time: 9:30am. Event: GBP CPI y/y.

Previous: 3.3%. Forecast: 3.6%.

Recommendations: the Core CPI y/y will also come out but the 2 are expected to go in one direction. I recommend trading this with the 5 minutes trading strategy and get out in less than 5 minutes of release with a Take Profit of 20 to 30 pips and a Stop Loss of 5 to 10 pips.

Time: 10:00am. Event: EUR German ZEW Economic Sentiment.

Previous: -54.2. Forecast: -55.

Recommendations: Buy EURUSD if actual is -50 or less negative for 30 or 40 pips.

Sell EURUSD if actual is -60 or more negative. The ideal strategy here is still the 5 minutes trader or you simply straddle the trade with 5 pips stop loss.

Time: 1:30pm. Event: US Core Retail Sales m/m.

There are too many reports coming out from US at this time. I will recommend skipping this except of course you are well experienced to handle the volatility that may be experienced.

Time: 2:00pm. Event: CAD Interest Rate Statement.

Previous: 3.00%. Forecast: 3.00%.

Recommendations: Buy USDCAD if actual is 2.75% or lower for 70 pips. Sell USDCAD if it is 3.25% or higher. If you have the 5 minutes trader use it wisely here with a stop loss of 10 pips if your dealer allows it.

So, that will be all for Tuesday July 15. I hope you make some good pips.

This is to your success!