giovedì 21 febbraio 2013

US Existing Home Sales


February 21, 2013


US Existing Home Sales




US Existing Home Sales is expected to remain unchanged 
from the previous month. Here’s the forecast:
10:00am Existing Home Sales Forecast 4.91M Previous
 4.94M

DEVIATION: 0.4M / 400K (BUY USD 5.31 / SELL USD 
4.51M)

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 5.31M figure is released, we should look to BUY USD after the release. If our sell tradable deviation is hit, or 4.51M figure is released, we should look to SELL USD.
Recommended Pairs : EURUSD, NZDUSD

USD/JPY - US Dollar / Yen

Resistances : : Weekly 93.85 ; Daily 93.5 ; Hourly 93.15

Supports : : Weekly 92.25 ; Daily 92.65 ; Hourly 92.8


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