Free Forex Signals for 02/15/2007
Thursday, February 15th, 2007Hi there ![]()
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Happy Valentine’s day! It was a very nice trading day today. Let’s first review what happened.
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We had the US retail sales came out, which pretty much came out as expected, and didn’t hit the trigger, so it was a no trade. Then we had Bernanke speech come out. He didn’t say anything specific about interest rates, however, he did emphasize moderating inflation, which was very dovish. The price jumped around between 1.9585 and 1.9595 for around a minute after the speech. I told everyone to go long at 1.9590, when the price was at 95, and unfortunately, the price never quite went down by 5 pips to hit the entry. It just went up by around 50 pips, and unfortunately I personally missed the train. There were some people in the room that got in, and made some good pips, but I definitely can’t take credit for it :) Then we had New Zealand retail sales that came out exactly as expected on the monthly number, but came out significantly higher on the core quarterly number. We had no trade according to the trigger, but I gave a long about a minute after the news was released. Unfortunately that report didn’t move New Zealand dollar at all, and we ended up being stopped out for -15 pips loss on one unit. Japan GDP more than made up for that loss. We had a very nice trade on USD/JPY. I personally made +37 pips one one unit, and +41 pips on another unit, but a total profit of +78 pips. Some people made as much as +120 pips and more. It was definitely a blockbuster trade. Please go to this link to watch the live trading videos of all of yesterday’s trades: http://www.forexdiamonds.com/performance.htm
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Rob Grespi from kingforexsignals.com made a few pips today, +33 pips to be exact. He took quite a few trades, so it the results weren’t as great as he normally does. But still, taking into consideration today, his performance for February is up to +579 pips total so far. I suggest watching his live trading videos by going to this link: http://www.kingforexsignals.com/robtrades0207.htm
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Okay enough reviewing, let’s talk about what’s going on tomorrow.
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1. Thursday, February 15th, 2007 (4:30 am New York Time) UK
We have UK retail sales coming out. After a big jump in Retail Sales for December, it’s expected that the retail sales in January will only show moderate growth…just enough to meet inflation. So it’s expected that the number will come out at 0.2%, though there are more economists that are expecting a lower number, rather than higher. If you want a very nice and steady sustainable move, then you can possibly go long on GBP/USD if the number comes out at 0.6% or higher, or go short on GBP/USD if the number comes out at -0.2% or lower. Unless you have Secret News Weapon or the forexdiamonds.com membership, you probably won’t be able to catch the initial spike, but that’s not the end of the world. Just wait for about 50% of retracement after the spike, and enter then, and watch carefully whether the initial spike level is broken or tested. If tested several times, take profits there, if broken, you can try to hold to your position for about 30 minutes and see what it brings you.
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2. Thursday, February 15th, 2007 (8:30 am New York Time) CANADA
We have Canadian manufacturing shipments coming up, which is expected to come out at 0.7%. If the number comes out at 2.3% or higher, it would match the previous high number, and would prove very strong growth two months in a row, so you can possibly go short on EUR/CAD. If the number comes out at -1.5% or more negative, it would mean that in December manufacturing shipments have lost significant ground which it gained in November, and you can possibly go long on EUR/CAD. Anything in between would be a no trade. If the triggers are hit, I am expecting a move in EUR/CAD of at least 40 to 60 pips.Â
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3. Thursday, February 15th, 2007 (8:30 am New York Time) USA
We have US Empire Manufacturing coming out, which is expected to come out at around 10.5. If the reading is 25 or above, it would be the highest reading since June of 2007, and you can possibly go short on GBP/USD. If the reading is -5 or below, it would the first negative reading in a while, and you can possibly go long on GBP/USD. You can try trading this report simultaneously with the Canadian one, and if both report compliment each other, you can even trade USD/CAD to get a more powerful trade. If the triggers are hit on Empire manufacturing, you can expect a move of 30 to 50 pips, but you may have to give it 5 to 10 minutes to fully unfold.
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4. Thursday, February 15th, 2007 (9:00 am New York Time) USA
Then we have TIC report coming of the US. Expectations are at +60 billion. Remember…this report lost most of its respect in the last year. It used to move with deviations of as little as 10, but now you gotta go much bigger, and still it’s risky. So if you want to be relatively safe, you can possibly go short on GBP/USD if the number comes out at 120B or more, and expect a spike of 30 pips or more. Or if the number comes out at 10 billion or less, you can possibly go long on GBP/USD and expect a spike of 30 pips or more.
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5. Thursday, February 15th, 2007 (9:15 am New York Time) USA
Then we have Industrial Production coming out of the US. It’s expected to come out flat at 0.0%. If the reading is at 0.4% or higher, it would match the highest reading since June of 2006, and you can possibly go short on GBP/USD, and expect a move of over 30 pips. Or if the reading is at -0.4% or more negative, it would be the lowest reading since September of 2005, and you can possibly go long on GBP/USD, and also expect a move of 30 pips or more.
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6. Thursday, February 15th, 2007 (10:00 am New York Time) USA
Ben Bernanke will be speaking again and taking questions. I would suggest staying out of the markets, because you may see nasty whipsaw action by 30 or 40 pips up and down on GBP/USD. I doubt that he will say much more than he said today already. So just heads up on market volatility, I won’t be trading it personally.
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7. Thursday, February 15th, 2007 (12:00 pm New York Time) USA
Then we have Philadelphia Fed Index coming out, which is expected somewhere between 4 and 5. This report gave only one signal in September, in the last 2 years. It did create a 50 pips move in GBP/USD, but mostly it was just the timing of the report. EUR/USD couldn’t break a high for a while, and this report was a catalyst which helped it do it, so it triggered massive stop/losses, and exaggerated the move across the board against the dollar. So bottom line is this is a very low possibility trade. As I said, the report is expected to come out at around 4 to 5. If it reads 20 or higher, it would be the highest reading since April of 2005, and you can possibly go short on GBP/USD. If the reading is -10 or more negative, it would be the lowest reading since December of 2001, so you can possibly go long on GBP/USD. If my triggers are hit, we may see a move of 30 to 50 pips on GBP/USD. I personally won’t be trading this report, because I will need to catch up on some sleep from trading the 6 reports prior to that. Plus, even in in the unlikely event that my triggers are hit, the move won’t be anything that’s worth crying over in case I miss it.Â
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That’s all I have to say about that. If you wanted to get into my forexdiamonds.com room at a scholarship special price, please make sure you are on the waiting list, which can be joined here:
http://www.forexdiamonds.com/join.htm, and wait for an email tomorrow, Thursday at 11:00 pm New York Time. Last week, I didn’t even send scholarship special, because I didn’t want to take anymore people. This week, I will have few more openings, but I am sure they will go fast, so if you want to get in, make sure you are at your email box at 11:00 pm New York sharp.
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To Our Success!
-Felix Homogratus
1617 Broadway St., Suite 1001
New York, NY 10002
USA