Forex Trading Signals for 01/29/2007
Hi there 
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I hope you had a nice weekend, and are ready for another exciting week ahead. We have quite a few things going on pretty much every day of this week, so stay tuned.
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Let’s first review what happened last Friday. It was a very hard day to trade. We had US Core Durable Goods come out and New Home Sales. New Home Sales didn’t give a signal, but core durable goods gave a signal, but the move happened very fast, was just a small gain. Please click here to watch live trading videos to learn a lot:
http://forexdiamonds.com/performance.htm
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Rob Grespi also had a tough time Friday. Fighting all day with a few small losses and few small wins. Rob saw some order flows coming in before durable goods, so he gave a signal about 30 seconds before the news was even released. That was a very nice profit. Then he ended up the day with another relatively large gain that pulled his performance for the day out into positive. So he ended up making only +33 pips on Friday, which brought his performance for January to +859 pips. I really hope that he can pull out a few good grades in the next couple of days, and close the month with over +1,000 pips. All of Rob’s trades for the month of January were recorded live on video. Please watch them here to get a feel on how he trades:
http://www.kingforexsignals.com/robtrades0107.htm
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Okay, let’s talk about what’s going on tomorrow, Monday. Monday is the slowest day of this week. We have only one potential trade, so I really hope it’s a good one.
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1. Monday, January 29th, 2007 (6:50 pm New York Time) JAPAN
We have Japanese Industrial Production coming out for the month of December. This is a relatively important report for Japan. They actually release it twice per month. The first one is preliminary report, which is the one we are getting tomorrow. The second one is final report, which is basically a revision of the preliminary report, which is coming out on February 13th. Preliminary reports are usually a lot more important. First of all, because they give the first taste and the first clues on how the Industrial sector in Japan did during the last month, and not only that, but there are also much bigger chance of a huge surprise in the reading of preliminary report. Japan industrial production has been reading very strong throughout the first two months of 4th quarter. After coming out reading at 1.6% in the month of October, and then 0.8% in the month of November, it’s expected that same output will maintain, and there will be an even further growth of 0.4%. In my opinion, if industrial production reads at 0.8% or higher, it would match or better than previous month’s reading, and would signify the biggest growth in industrial sector for 2006, so it would be good for the yen, and I may possibly go short on USD/JPY. If the reading is 0% or negative, it would mean that industrial growth stayed the same in the month of December or even shrank, and it would be negative for the yen, so I may possibly go long on USD/JPY. If my triggers are hit, I am expecting a move of 30 pips or more in the USD/JPY pair, but it may take up to 30 minutes for the move to fully manifest itself. Of course the price levels before the report, and the readings of jobless rate and household spendings that are coming out 20 minutes before this report may also play a role on how this report needs to be traded.
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Good luck to us tomorrow :) Please don’t forget that tomorrow, Monday at 11:00 pm New York Time, I will be taking few more people for the Secret News Weapon. If you wanted to purchase the weapon, make sure you are on the waiting list, which you can join through this link:
https://www.secretnewsweapon.com/buyit.html
And make sure to wait for an email at 11:00 pm New York Time sharp.
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To Our Success!
-Felix Homogratus
1617 Broadway St., Suite 1001
New York, NY 10002
USA