BuyForexSignals.com

Hi there
 
I hope you are having a great day.  Let’s first review what happened earlier today.
 
We were watching three reports earlier today.  We were watching the German IFO, The Existing Home Sales, and the Japan CPI.  German IFO came out worse than expected, but didn’t hit my trigger.  EUR/USD moved down by around 20 pips.  Remember, I set my triggers usually, with an expectation to get at least 30 pips move or bigger.  So German IFO was a no trade for me.  Existing home sales came out within 30,000 of consensus.  We were looking for 250,000 deviation.  So obviously that was a no trade either.  Then the Core Tokyo CPI y/y came out also as expected, so that was a no trade.  We saw yen strengthen for a little bit at the sight of as expected number, which proved that there may still be a chance of a rate hike out of Japan next month.  National CPI for the month of December, came out slightly worse than expected.  0.1% versus 0.2% expected, so after the market digested the data, yen weakened some.  Again, my trigger wasn’t hit on this report, so it was a no trade.
I still do suggest that you watch the live trading videos from today to learn some of the fundamentals we traded in depth.  Here is the link:
http://forexdiamonds.com/performance.htm
 
Rob Grespi from kingforexsignals.com had a great day today.  He made +66 pips total.  Took 9 trade, 6 of them were winners.  The biggest loser was -11 pips total, and the biggest winner was +35 pips total.  So overall was +66 pips for the day, which brought his performance for the month to +828 pips total.  To watch Rob’s live trading video, please go to this link:
http://www.kingforexsignals.com/robtrades0107.htm
Please don’t forget that tomorrow, Friday, January 26th, 2007, at 10:30 am New York Time, Rob will be conducting a presentation, explaining his trading style, and then taking questions.  This session will be open to all members of Secret Forex Society.  If you are reading this email, obviously it means that you are a member, and you are invited.  If you want to join us, here are the login details:
www.omNovia.com/sc2/forex/kingforex (Password: king1765)
The password will start working on Friday at 10:15 am.  I can only take in so many people into the room, once all spaces are filled up, the password will stop working.  So don’t be late.
 
Remember, Rob Grespi makes close to 1 million dollars per year on his own account.  He used to trade currencies for Deutsche bank, and in December of 2006 he was offered a job at Credit Suisse, with a salary of 750,000 Euros per year, plus bonuses.  He turned down that offer, obviously because he makes as much trading on his own, and he didn’t want to give up his freedom and become a bank slave once again.  So bottom line is, if you were wondering how banks operate on the inside, and how they make money in forex, this Friday’s session should be a perfect opportunity.  Write down your questions, and I hope to see you there.
 
Okay, so let’s talk about what’s going  on tomorrow in terms of fundamentals.
 
1.  Friday, January 26th, 2007 (8:30 am New York Time) USA
We have Durable Goods coming out of the US.  This is a crazy report that can deviate greatly.  We have two main numbers.  The headline number and the core number, also known as the number X transportation.  My focus will be the core number.  The expectations is that December Durable Goods X Transportation will come out at 0.5%.  A slight rebound after two big declines is expected.  Remember…back in October, we saw a decline in this number by a huge -1.8%, and then in November by -1.1%.  If the number tomorrow comes out at 0% or negative, it would signify either flat reading or a decline after two huge declines and would be bad for the dollar short term, and I may possibly go long on GBP/USD.  Especially that December is a Christmas month…no good.  If the number rebounds and reads 1.0% or higher, it would be good for the U.S. dollar short term, and I may possibly go short GBP/USD.  It would be ideal if the headline number didn’t conflict, but even if it does by a little, the X transportation should still pull out the move after a bit of whipsaw action.  If my triggers are hit, and there are no large conflicts, I would expect a move of at least 30 pips on GBP/USD.
 
2.  Friday, January 26th, 2007 (10:00 am New York Time) USA
Then we have New Home sales coming out.  Even though new home sales constitutes for only about 15% of all home sales in the U.S., they are extremely important, because when new home sales are booming, the manufacturing and construction industries are booming, and it says something about people’s confidence, because if people are buying new homes, that generally means that they are picking them over existing homes that are cheaper, and therefore are confident about their future financial situation.  It’s expected that new home sales for the month of December will come out at 1050K or so, which is a little bit better than they came out last month.  Last month was 1047K.  This is a very interesting indicator that seems to be important, but the market reacts to it in a weird way.  We really need a big deviation in order to see a decent size move.  If the number comes out at 1122K or higher, it would be the highest reading since January of 2006, and should be good for the dollar short term, so I may possibly go short on GBP/USD.  If the reading is at 978K or lower, it would be the lowest reading since February of 2003, so I may possibly go long on GBP/USD.  If my triggers are hit, I would expect a move of at least 30 pips. 
 
That’s all for tomorrow
 
To Our Success!
-Felix Homogratus

1617 Broadway St., Suite 1001
New York, NY 10002
USA

This entry was posted on Friday, January 26th, 2007 at 8:43 am and is filed under BuyForexSignals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.