DislikedJP, Yeah, what I posted is like a heat map. I've tried, and heard of others trying, to build a chart or spreadsheet on fundamentals by giving a number to each (fundamental) release weighted by it's importance and it's change up or down from the past reports. That helped keep my mind on the fundamental bias for each major, but the apparent strength or weakness did not seem to always show up in the charts right away, or in the way that might be expected. So it was difficult to make the time invested in tracking the releases numerically to translate...Ignored
Yes, it is difficult to make it work in real time with what we forecast to happen with the currency. That's why I'm looking at taking a longer view of each release. The biggest thing for importance which I keep saying on this thread is what the central bank are focused on, and they tell us. If a central bank is focused on employment, then even if a Home Sales figure or Building Permits figure may be way off the previous figure, people with money won't care, because according to the central bank that section of data is actually doing fine.
USD upwards movement is definitely because of what the Fed have been saying on that interest rate hike we're all expecting. And GBP weakness is because of some poor data released on Friday. Also that Euro weakness from the ECB now having a major concern on inflation.
It would be great to see those indexes, or even speak by PM if you'd rather not post on the thread. As for the breakouts, I believe that prices break either way not because they're supposed to, but because of fundamental factors. For example, the NZD/USD trade I have posted above for next week, I believe that the level of support will stay as support initially and we'll have that price move up to the level of resistance, because of fundamental factors playing out at the start of the week. That level of support though may be broke later next week or the week after because of continuous strength in the dollar.
In some cases though, as presented in the first post on this thread, you can trade very short-term (a few hours) and catch pips just from the London open. We know that London has the largest influx of capital into the markets, so looking for a short-term strength or weakness will work. I have, on many occasions, caught a simple 30 pips in one or two hours off the London open. It's more risky, but works the majority of the time. These are the two ways I'm trying to speak to people about.
I'll post a trade from December where just a few pips are caught.