May 22, 2012
US Existing Home Sales is expected to rise slightly from the previous month as
current foreclosure rate is still remaining resiliently high. Here’s the
forecast:
10:00am Existing Home Sales Forecast 4.64M Previous 4.48M
DEVIATION: 0.4M / 400K (BUY USD 5.00M / SELL USD 4.20M)
Definition:“Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation’s currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it’s the month’s first demand-side housing indicator to be released.”
The Trade PlanBecause the Housing sector is one of the most foundamental components of the U.S. economy, this release will certainly cause some volatility in the market, especially if our tradable figures (+/- 400K) were hit. With the focus of world on the status of U.S. housing sector, this release may bring about a strong sentiment of risk appetite/aversion if our BUY/SELL trigger is hit…
If our buy tradable deviation is hit, or 5.00M figure is released, we should look to BUY USD after the release. If our sell tradable deviation is hit, or 4.20M figure is released, we should look to SELL USD.
Primary currency pair: EURUSD or USDJPY.
BOOKS
Currency Trading in the Forex and Futures Markets - Carley Garner - EUR 28,74
Getting Started in Forex Trading Strategies - Michael Duane Archer - EUR 16,12
The Little Book of Currency Trading: How to Make Big Profits in the World of Forex (Little Books. Big Profits) - Kathy Lien - EUR 12,62
Forex Strategy 10: Low Risk/High Return Currency Trading - ROB BOOKER - EUR 0,89
10:00am Existing Home Sales Forecast 4.64M Previous 4.48M
DEVIATION: 0.4M / 400K (BUY USD 5.00M / SELL USD 4.20M)
Definition:“Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation’s currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it’s the month’s first demand-side housing indicator to be released.”
The Trade PlanBecause the Housing sector is one of the most foundamental components of the U.S. economy, this release will certainly cause some volatility in the market, especially if our tradable figures (+/- 400K) were hit. With the focus of world on the status of U.S. housing sector, this release may bring about a strong sentiment of risk appetite/aversion if our BUY/SELL trigger is hit…
If our buy tradable deviation is hit, or 5.00M figure is released, we should look to BUY USD after the release. If our sell tradable deviation is hit, or 4.20M figure is released, we should look to SELL USD.
Primary currency pair: EURUSD or USDJPY.
BOOKS
Currency Trading in the Forex and Futures Markets - Carley Garner - EUR 28,74
Getting Started in Forex Trading Strategies - Michael Duane Archer - EUR 16,12
The Little Book of Currency Trading: How to Make Big Profits in the World of Forex (Little Books. Big Profits) - Kathy Lien - EUR 12,62
Forex Strategy 10: Low Risk/High Return Currency Trading - ROB BOOKER - EUR 0,89
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