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).
We had a couple of events to watch and probably trade today beginning with the AUD Employment Change at 2:30am. It came out at 29.8K with Unemployment rate dropping to 4.2% from previous and expected 4.3%. It was such a swift move for the AUDUSD that some missed out of the action. One of my accounts had a wrong filling while another made 39pips out of about 70pips the pair did in the first minute.
The GBP Halifax HPI came out at -2.0% and GBPUSD went down by over 30 pips. I lost 5pips with the 5 minutes trader on this one but it performed better on the retracement.
Then at 12:00pm the GBP Interest rate Statement came as expected at 5.00% and was a no trade.
Finally, we had the USD Unemployment Claims at 1:30pm which was good for the US Dollar but the pre-release price was too high already for the USDJPY. It only went up by only 16pips. It came out at 346K but did not do quite well. On average I will say today was not that bad after all.
Now let us review what to expect on Friday July 11 2008.
Time: 12:00pm. Event: CAD Employment Change m/m.
Previous: 8.4K. Forecast: 10K.
Recommendations: Buy USDCAD if actual is 1K or lower for 30 pips or more.
Sell USDCAD if actual is 19K or higher for 30 pips.
Watch out for any contradictions from the unemployment rate report.
Time: 1:30pm. Event: USD Trade Balance.
Previous: -60.9B. Forecast: -62.1B.
Recommendations: Buy USDJPY if actual is -60.9 or less negative for 30 pips or more.
Sell USDJPY if actual is -62.8B or more negative for 30 pips.
The 5 minutes trading Strategy might still be ideal here.
This is to your trading Success!
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