Forex Trading Signal Dec 26-28
1. Wednesday, December 26th, 2007 (9:00 a.m. New York Time) USA
On Wednesday, Dec 26, at 9 a.m. New York time we will have S&P/CS Composite 20 House Price Index y/y coming out of the U.S. It is expected to come out at -5.7%, and I recommend to use 0.3 triggers. If it comes out at -6% or more negative, that would be a sell signal on USD/JPY, and -5.4% or less negative would be a buy signal on USD/JPY. It is a new indicator, and it was performing pretty well past few months.
2. Thursday, December 27th, 2007 (8:30 a.m. New York Time) USA
On Thursday at 8:30 a.m. New York time we will have U.S. Durable Goods x Transportation and Initial Jobless Claims. The Initial Jobless Claims is expected to come out at 340K versus 346K last month. If Durable Goods comes out at 3% or higher, that would be a sell signal on GBP/USD. A reading of -2% or more negative would constitute a buy signal on GBP/USD. Then look at Initial Jobless Claims: 20K trigger should be tradable.
3. Thursday, December 27th, 2007 (6:30 p.m. New York Time) JAPAN
We are going to have Tokyo CPI coming out. I would not trade this one.
4. Friday, December 28th, 2007 (4:30 a.m. New York Time) UK
On Friday at 4:30 a.m. New York time we will have the UK Nationwide House Prices. It is expected to come out at -0.3%. I recommend trading 0.3 trigger so if it comes out at 0 or positive, it would be a buy signal on GBP/USD, good for 25 to 30 pips. If it comes out at -0.6% or more negative, it would be a sell signal on GBP/USD, good for 25 to 30 pips. You can also trade GBP/JPY.
5. Friday, December 28th, 2007 (10:00 a.m. New York Time) USA
Then at 10 a.m. New York time we will have the U.S. New Home Sales. If it comes out at 770K or higher, it would be a buy signal on USD/JPY, and a reading of 670K or lower would give a sell signal on USD/JPY with about 30 pips profit target.
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