DislikedFelix Forex Trading Signal
Tuesday, October 2nd, 2007 (10:00 a.m. New York Time) USA
At 10 a.m. New York time we will have U.S. pending home sales coming out for August. After a huge drop of -12.2% last month, they are expecting another drop of -2.1%. Last month we saw a pretty steady move on GBP/USD by about 100 pips. In my opinion, if it comes out at 3% (positive) or higher, I think GBP/USD may possibly go down by 30 pips or more in the first hour of the report. On the other hand, if the U.S. pending home sales comes out -5% or more negative, GBP/USD may possibly gain 30 pips or more in the first hour of the report. Be careful on this report because recovery of 3% may not mean too much because last month we saw such a huge drop, and recovery is kind of normal thing. On the other hand, further drop on housing is also partially expected. This move may be heavily dependent on the price action right before the report, and if there is a strong trend,and the number is against the trend, the spike can be muted, and then the players will take advantage of a lower price to continue with the trend. However, with a rangy market with no strong support or resistance levels, 30 pips is a pretty reasonable target.Ignored
Plummeting in the first 5 minutes with a -6.5 decrease result. Will see how
this plays out.
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. i have been have been noticing that the 15 min QQE60 is a really good indicator. i told myself i would make it a top tool in my arsenal and if i would have listened to myself i would still be in this trade. it is a great indicator
