FOREX SIGNAL

Let's talk about Friday.

1. Friday, October 31st, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have Personal Income m/m and Personal Spending m/m. In order to trade it, you need to have +/- 1.0 deviation on at least one of them, and the other one cannot be conflicting. If one of them deviates by +1.0 and the other one is not conflicting, USD/JPY should go up by 30 pips. If one of them deviates by -1.0 and the other one is not conflicting, USD/JPY should go down by 30 pips. Because two reports need to be analyzed, I will personally skip them since it would be too tricky to set it up on SNW but if you want to take a risk, this may actually work pretty well.

2. Friday, October 31st, 2008 (9:42 a.m. New York Time) USA
Then at 9:42 a.m. we will have Chicago PMI. This is tradable only if you can get the number at 9:42, not 9:45, and since this report cannot be traded from SNW, I will not trade it. Due to current market conditions, this report can be traded if there is a big surprise so minimum trigger here would be +/- 5.0. A deviation of +5.0 or more should send USD/JPY up a bit, and a deviation of -5.0 or more negative should send USD/JPY down a bit.

That would be all for this week.