August 07th, 2008

1. Thursday, August 07th, 2008 (4:00 a.m. New York Time) UK
At 4:00 a.m. we will have Halifax House Price Index coming out which is expected to come out at -1.5. With 1 deviation GBP/USD may move 20 pips so there might be a little scalping opportunity. If it comes out at -2.5 or more negative, I would sell GBP/USD and look for 20 pips move. If it comes out at -0.5 or less negative or positive, I would buy GBP/USD and expect 20 pips move as well. Again, this is not a big indicator - this would be just a quick scalping.

2. Thursday, August 07th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected they will keep the rates unchanged. If they hike the rates, I would buy GBP/USD and expect a move of 70 pips. If they cut the rates, I would sell GBP/USD and expect a big move as well.

3. Thursday, August 07th, 2008 (7:45 a.m. New York Time) USA
At 7:45 a.m. we will have European Interest Rate statement. It is expected they will keep the rates unchanged as well. If they hike the rates, I would buy EUR/USD and expect a move of 70 pips. If they cut the rates, I would sell EUR/USD and expect a big move as well.

4. Thursday, August 07th, 2008 (8:35 a.m. New York Time) EUROZONE
After 8:30 a.m. we will have Trichet speaking. This is a very tradable event but requires you to have a very good skills to do so. Do not even try to trade his speeches if you are new in Forex. If you are more advanced and interested to trade it, please watch the video or sign up for the trial period to the Diamonds room.

5. Thursday, August 07th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. Pending Home Sales. If it comes out at +3.0% or higher, I would buy USD/JPY and look for 25 to 40 pips price action. If it comes out at -5.0% or more negative, I would sell USD/JPY and look for 25 to 40 pips move as well.