News, October 18, 2012
Today´s Retail Sales number from UK will be widely watched as this is a high impact yet very tradable report. Here is the forecast for this release:
4:30am (NY Time) Forecast 0.7% Previous -0.2%
DEVIATION: 0.5% (BUY GBP 1.2% / SELL GBP 0.2%)
DefinitionMeasures the value of sales at the retail level. A rising trend has a positive effect on the nations
currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders payclose attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.
The Trade PlanThe monthly retail sales report is a direct measurement of consumer activities at the retail level. A higher release is generally good for the economy, and better for it´s currency; a lower release is considered negative for the economy and not good for it´s currency.
Our tradable deviation or surprise factor for UK Retail Sales is +0.5%to BUY and -0.5% SELL. If our deviation is hit, we can expect the market to move at least 50 pips within the hour; We´ll be looking to BUY GBP if we get a 1.2% or better and SELL GBP if we get 0.2 or worse.
Recommended Pairs: GBPUSD.
Resistances : Weekly 1.6215 ; Daily 1.618 ; Hourly 1.614
Supports : Weekly 1.5975 ; Daily 1.6045 ; Hourly 1.611
BOOKS
Swimming With The Sharks. How to Thrive and Survive in FOREX. - Trader X - EUR 16,03
How To Make A Thousand Dollars A Day In Forex - THE RIGHT WAY (How To Make A Million In Forex THE RIGHT WAY) - Pablo Amarna - EUR 8,47
Trading Binary Options: Strategies and Tactics - Abe Cofnas - EUR 49,37
THE BEST OF MUSIC
The 2nd Law (CD + DVD) - Muse - EUR 14,48
4:30am (NY Time) Forecast 0.7% Previous -0.2%
DEVIATION: 0.5% (BUY GBP 1.2% / SELL GBP 0.2%)
DefinitionMeasures the value of sales at the retail level. A rising trend has a positive effect on the nations
currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders payclose attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.
The Trade PlanThe monthly retail sales report is a direct measurement of consumer activities at the retail level. A higher release is generally good for the economy, and better for it´s currency; a lower release is considered negative for the economy and not good for it´s currency.
Our tradable deviation or surprise factor for UK Retail Sales is +0.5%to BUY and -0.5% SELL. If our deviation is hit, we can expect the market to move at least 50 pips within the hour; We´ll be looking to BUY GBP if we get a 1.2% or better and SELL GBP if we get 0.2 or worse.
Recommended Pairs: GBPUSD.
Resistances : Weekly 1.6215 ; Daily 1.618 ; Hourly 1.614
Supports : Weekly 1.5975 ; Daily 1.6045 ; Hourly 1.611
BOOKS
Swimming With The Sharks. How to Thrive and Survive in FOREX. - Trader X - EUR 16,03
How To Make A Thousand Dollars A Day In Forex - THE RIGHT WAY (How To Make A Million In Forex THE RIGHT WAY) - Pablo Amarna - EUR 8,47
Trading Binary Options: Strategies and Tactics - Abe Cofnas - EUR 49,37
THE BEST OF MUSIC
The 2nd Law (CD + DVD) - Muse - EUR 14,48
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