November 28, 2012
US New Home Sales usually follows the trend of Existing Home Sales, therefore we´re likely to see similar release today.
Here is the forecast:
10:00am NY Time New Home Sales Forecast 385K Previous 389K
DEVIATION: 70K (BUY USD 455K / SELL USD 315K)
10:00am NY Time New Home Sales Forecast 385K Previous 389K
DEVIATION: 70K (BUY USD 455K / SELL USD 315K)
Definition
“Measures the annualized number of new residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation´s currency because the housing market is a leading gauge for the overall economy. A high level of housing activity signals that the construction industry is healthy and that consumers have the capital to make large investments. More importantly, new housing activity creates an economic ripple effect as home owners buy goods such as appliances and furniture for their homes, and builders buy raw materials and hire more workers to meet demand.”
“Measures the annualized number of new residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation´s currency because the housing market is a leading gauge for the overall economy. A high level of housing activity signals that the construction industry is healthy and that consumers have the capital to make large investments. More importantly, new housing activity creates an economic ripple effect as home owners buy goods such as appliances and furniture for their homes, and builders buy raw materials and hire more workers to meet demand.”
The Trade Plan
We´ll trade this release using a deviation around 70K; if the release is lower, it would strengthen USD aversion sentiment and we should look to SELL USD. A stronger number could provide temporary support for the USD and we may see a slight rally therefore we should look to BUY USD.
We´ll trade this release using a deviation around 70K; if the release is lower, it would strengthen USD aversion sentiment and we should look to SELL USD. A stronger number could provide temporary support for the USD and we may see a slight rally therefore we should look to BUY USD.
We´ll be looking for a possible after-news retracement trade. We need to wait for the release, then wait for the market to spike, and wait for decent retracement.
Recommended Pairs : EURUSD, NZDUSD, USDJPY
USD/JPY - US Dollar / Yen
Resistances :
Weekly 82.85 ;
Daily 82.3 ;
Hourly 81.95
Supports :
Weekly 81.05 ;
Daily 81.4 ;
Hourly 81.7
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A revolutionary method which will change for ever the way of trading in FOREX market. * The FOREX code was unveiled through this ACH15® strategy and now it is not a secret anymore. * A unique discovery which represents a different kind of FOREX, without stress, emotions (feelings). * A harmonious combination between arbitrage, correlation, hedging, plus 15 original and dynamic principles.
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