Forex Signals for 01/18/2007
Hi there :)
I hope you are having a wonderful day :) I am still sitting here, waiting for the interest rate announcement out of Japan that I wrote to you about last night. Historically, it usually gets released between 10:00 pm NY Time and 1:00 am NY Time, but I am waiting for it a bit earlier just in case.
Let’s first review what happened earlier today. First we had the the PPI come out, which didn’t hit my trigger so that was a no trade. Then we had the TIC report come out, which also didn’t hit my trigger, so that was a no trade. Industrial Production came out at 0.4%, which hit my trigger, but unfortunately prior number was revised from 0.2 to -0.1, and since this was a month over month number, the actual number was so high was pretty much due to the revision of previous number, so the revision killed the move. I exited right away, lost a few pips on the spread, so I consider this trade a loss. You can watch my live trading videos and learn some fundamentals by going to this link: http://forexdiamonds.com/performance.htm
Rob Grespi from kingforexsignals.com made +63 pips today, a pretty good day. That brought his performance up to +680 pips total. If you wonder what his service is like, you are welcome to watch his live trading videos by clicking on this link: http://www.kingforexsignals.com/robtrades0107.htm
Okay, let’s talk about what’s going on tomorrow. Tomorrow should be a relatively easy day with a couple of heavy trades.Â
1. Thursday, January 18th, 2007 (8:30 am New York Time) USA
We have CPI figures coming out of the U.S. It’s probably the 2nd biggest report after US non-farm payroll. My focus will be on month over month core CPI figure, which is expected at 0.2%. If this number comes out at 0.3% or higher, it would be good for the dollar short term, because it would mean that inflation is still high, despite the flat reading previous month, so I may possibly go short on GBP/USD. If the number comes out flat or 0%, it means that inflation has moderated tremendously, second month in a row, so I may possibly go long on GBP/USD. If my triggers are hit, the move may be between 50 to 80 pips or even more.
2. Thursday, January 18th, 2007 (12:00 pm New York Time) USA
Then we have Philly Fed Index coming out, which is expected at 3.0. Philly Fed index is the #1 indicators that’s supposed to give timely clues on what the ISM Manufacturing will come out for the month of January, so any significant surprises in the Philly Fed reading can easily move the pound by 30 pips or mroe. If the reading comes out at 14 or higher, it would be the highest reading since April of 2005, so I may possibly go short on GBP/USD. If the reading comes out at -5 or more negative, it would be the lowest reading in a while, so I may possibly go long on GBP/USD. 30 pips would be my expected target if my triggers are hit.
3. Thursday, January 18th, 2007 (4:45 pm New York Time) New Zealand
Then we have retail sales coming out of New Zealand. The expected number is at -0.1%. A reading of -0.3% or more negative would be bad for the New Zealand dollar short term, so I may possibly go short on NZD/USD. A reading of 0.2% or higher, would be good for New Zealand dollar short term, so I may possibly go long on NZD/USD. If my triggers are hit, I believe we should see a move in NZD/USD of about 45 pips or so. That of course assuming that there is no extremely strong support or resistance at a lower number of pips level before the report. You can also trade AUD/NZD pair on this, which might give a move of up to 70 pips or higher. Except instead of going long on NZD/USD, you would go short on AUD/NZD, and vice versa, everything is the opposite.
That’s all for tomorrow. Don’t forget that tomorrow, Thursday is the scholarship special deal into my forexdiamonds.com live news trading room. So if you wanted a shot to get in, please make sure you are on the waiting list, and wait for a special email tomorrow, Thursday at 11:00 pm New York Time. To get on the waiting list, you can go to this link: http://forexdiamonds.com/join.htm
To Our Success!
-Felix Homogratus
1617 Broadway St., Suite 1001
New York, NY 10002