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Mar
03/09
Trade Opportunity Tonight – March 3, 2009
Last Updated on Tuesday, 3 March 2009 04:01
Written by dustin pass
Tuesday, March 3rd, 2009

TRADE OPPORTUNITY TONIGHT

Australian GDP

There is an opportunity to trade tonight when the Australian GDP is released at 7:30pm EST. Your focus should be on the GDP (QoQ) figure, and the expectation for this release is 0.2%. We have placed a safe trigger of 0.4% for this release; however, you may be able to lower the trigger to 0.3% and still have a fairly safe trigger. We have historically seen moves of around 25 to 40 pips when this release has met the safe deviation.

We would prefer to see a sell trigger as the AUDUSD is currently in a down trend, although it made a strong move up after the RBA decided not to change interest rates last night. There is strong resistance at the 0.6450/60 area, so if there is a buy trigger tonight you may want to get out at that area as there will be less chance of a sustained move on a buy trigger.

Below is a chart on the AUDUSD from the last time this release met a 0.3% trigger last June.

Live Trade Room

We will not have the Live Trade Room open for this trade, but I wanted to make you aware of the opportunity.

Live on the News

Our next Live on the News trade opportunity will be on Friday when the US Non-Farm Payrolls report is released.

Good Luck!!!!

HOW TO TRADE THE FREE CALLS

If this is the first time you are receiving my trade calls, please visit…

http://www.forextradersdaily.com/signals.htm

for important information on how to use my calls.

WOULD YOU LIKE ME TO COACH YOU THROUGH
TRADES IN REALTIME?

Then visit: http://www.forextradersdaily.com/forex2.php

Tags: , , , , ,   |  Posted under AUD News Data  |  Comments  No Comments
Mar
02/09
Trade Opportunity Tonight
Last Updated on Monday, 2 March 2009 03:29
Written by dustin pass
Monday, March 2nd, 2009

Forex Trade Call

TRADE OPPORTUNITY TONIGHT

There is an opportunity to trade tonight when the AUD Retail Sales is released at 7:30pm EST. Your focus should be on the AUD Retail Sales (MoM) figure, which is expected to be 0.5%. We have placed a safe trigger of 0.4% for this release. We have historically seen moves of around 30 pips when this release has had a deviation of 0.4% or higher.

We would prefer to see a sell trigger on this release as the AUD/USD is in a down trend. Also, the interest rate decision is later in the evening and the RBA is expected to lower interest rates by .25%, which could make the AUD/USD drop further. We will most likely see a spike either way if it meets our safe trigger, but you may want to close out of a buy trade quickly.

This trade last met our safe trigger last July and the AUDUSD moved approximately 30 pips. The chart for the AUDUSD around the time of July’s trade is below:

We will not have the Live Trade Room open for this trade, but I wanted to make you aware of the opportunity.

Reserve Bank of Australia

Also, the Reserve Bank of Australia is coming out with their interest rate statement tonight at 10:30 pm EST. It is anticipated that they will lower interest rates by .25%. This could also provide a good move if the RBA either does not lower rates or lowers them more than expected. Again, we are not trading this in the Live Trade Room, but I wanted to make you aware as this will have an impact on any trades you may be in on the AUD/USD.

Good Luck!!!!

HOW TO TRADE THE FREE CALLS

If this is the first time you are receiving my trade calls, please visit…

http://www.forextradersdaily.com/signals.htm

for important information on how to use my calls.

WOULD YOU LIKE ME TO COACH YOU THROUGH
TRADES IN REALTIME?

Then visit: http://www.forextradersdaily.com/forex2.php

Tags: , , ,   |  Posted under AUD News Data  |  Comments  No Comments
Mar
02/09
Weekly Forex Outlook
Last Updated on Monday, 2 March 2009 12:32
Written by Derek Frey
Monday, March 2nd, 2009

Forex Trading This Week

A Traders Market!

This week we are faced with a number of Central bank rate decisions.  We start off with RBA and BOC and end the week with BOE and ECB.  We are not expecting much if anything out of these meetings.  The main focus will again be the statements made not the rates moved.  We expect to see continued choppy action in the face of these meetings.  We may see some minor directional bias on the back side of these meeting but by in large this is a “traders market!”

Tradable Support Level – EUR/USD

Last week I mentioned that we saw a short squeeze but would fall back to retest 1.25 or so.  We have seen that now come to pass.  We expect 1.25 to be broken later this week or early next but for the first half of this week we see it as a tradable support level.  Look for fireworks on Trichet’s speech later this week…

GBP/USD

Last week I mentioned we would blow off to about 1.46 and then plunge back below 1.43 and we saw exactly that.  We are now testing 1.40 support.  Early part of the week we see it holding but here, much like the Euro, we are concerned about a breakdown into the mid 130′s later this month.  The BOE is almost as reckless as the FOMC and they will be the first to pay for these mistakes…

Roll Over On The Way – USD/CHF

Here too I mentioned patience before looking to sell the rallies.  We have seen a push above 1.17 now and could see a few more spikes before this pair truly rolls over but roll over it will…

Short Squeeze Last Week – USD/JPY

WE saw a wild short squeeze in the Yen pairs last week.  I expect last weeks high to hold for now in this pair and we expect we will see 95 before we see 100.

Looking on the Buy side – AUD/USD

This pair is becoming attractive from the buy side on pullbacks stops below 62

Looking for a Sharp Pullback – USD/CAD

This pair is seeing a blow off short squeeze as I write this.  I am expecting a sharp pullback into the low 120′s as the month grinds forward.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

WOULD YOU LIKE DEREK TO COACH YOU THROUGH
THESE TRADES IN REAL-TIME?

Then visit: http://www.forextradersdaily.com/dereksorder.php

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Tags: , , , , ,   |  Posted under Forex Market Updates  |  Comments  No Comments
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