Hey folks:
Henry Liu here again with an overview of upcoming high impact tradable releases for the week. As usual, I will be sending you more detailed analysis on each release about a day before their schedule.
So following the tradition, let’s look at what took place before last week:
EUR Gained 2.5% Against USD
GBP Gained 1.5% Against USD
CAD Lost 2.0% Against USD
AUD Lost 1.0% Against USD
NZD Remained Unchanged
JPY Gained 2.0% Against USD
CHF Gained 0.5% Against USD
…and what happened last week…
EUR remained unchanged
GBP gained 1.0% against USD
CAD gained 2.0% against USD
AUD gained 3.0% against USD
NZD gained 2.0% against USD
JPY lost 1.0% against USD
CHF remained unchanged
Looking at the market, we are seeing excessive gains in commodity currencies, and unless we get further news to support this sentiment, expect some pullbacks on AUD, NZD, and CAD this week from a purely statistical point of view.
Looking at the 2nd quarter GDP data out of UK, we are now seeing a much better outlook for UK, even though many analysts agree that this may very well be the best quarter “for some time” from UK. However, let’s put things in perspective… GDP is released quarterly, and we’ll have two more releases out of UK for the 2nd quarter, and they will be focused on the optimism… The next prelim GDP release will be in October on the 3rd quarter, and from now until then there is pretty much enough time to see GBP soar against USD… I believe we could see GBP/USD between the 1.62~1.70 level in the next few months, as both negative outlooks in U.S. and the rest Europe should push demand higher for the Sterling.
So my bias towards Sterling is pretty much buy on dips. I think if you refrain from SELLING Sterling and just wait for GBP/USD or GBP/JPY to drop towards support levels, your chances of making pips on BUYs are going to be much higher…
Another possibly trend changing news was the drop in CPI or Inflationary pressure in Canada. As BOC Carney cautiously reminded the public that BOC will be monitoring global economy and its own inflation in deciding future monetary policy, it is very likely that having a negative reading may add to some concerns over CAD despite of rising crude prices. Let’s face it, because of the proximity to U.S., Canada’s economy is expected to be dragged down somewhat, which makes CAD a perfect currency to play short term range trade, and with the recent CPI release, we should be looking to BUY USD/CAD whenever it dips down, I would not expect to see USD/CAD drop down to 1.0100 level, much less parity with USD… so whenever we see market pushing this the “wrong way”, I’d call a buy, buy, buy… Look at your 4 hour charts and find those support areas, they should provide entry levels on the USD/CAD pair.
Ok, so let’s move on, here are the tradable releases for the week:
1. Tue July 27, 2010 (9:30pm EST) AU CPI q/q
2. Wed July 28, 2010 (5:00pm EST) NZ RBNZ Cash Rate
3. Fri July 30, 2010 (8:30am EST) US Advanced GDP q/q
4. Fri July 30, 2010 (8:30am EST) CA GDP m/m
Here are some untradable releases:
- A. Mon July 26, 2010 (10:00am EST) US New Home Sales – Since U.S. housing is expected on a decline, I decided to skip this release today…
- B. Tue July 27, 2010 (10:00am EST) US CB Consumer Confidence – Usually we don’t get much market reaction for this release, unless we get a huge deviation…
- C. Wed July 28, 2010 (8:30am EST) US Durable Goods – Not really a market mover anymore. But I am watching it… Note Durable goods is correlated with Housing data, so if we get worse housing data in general, expect a decline in this release as well…
- D. Thu July 29, 2010 (8:30am EST) US Unemployment Rate – This release usually matter when it’s the NFP week…
Ok folks, this is it.
If you like this overview, please share it on Facebook and Twitter. Thanks!
Henry
Related posts:
- Upcoming News Releases Of the Week December 6 ~ 10, 2010
- Upcoming Forex News For July 3 ~ 8, 2011
- Forex Market Weekly Analysis March 22, 2010
- Upcoming Forex Trading News For July 25 ~ 29, 2011
- Upcoming Forex News For July 11 ~ 15, 2011
- Upcoming Forex News For July 18 ~ 22, 2011
- Upcoming Forex News For June 27 ~ July 1, 2011
- Upcoming Signals Overview (June 13 ~ June 17, 2011)
- Upcoming High Impact Forex News For December 13 ~ 17, 2010
- Forex News and Market Trend Wrap-up – Thanksgiving Week, Dubai World, UAE Support, JPY Strength…
{ 13 comments… read them below or add one }
What is the cost of service and what is included in price?
Hello henry.
Can you tell me where your sign up page is so that I can see your fees and subscription conditions please.
Which services are you referring to?
Henry Says: It would be on my weekly outlook, but it is not a free report.
Im referring to the above mentioned service henry.
TQ
Hi henry,
Thanks alot. Hope we will be getting some swing and positional trades as you given last week (600+pips). So if you do have such trades where do you will post it? is it here?
Thank you in advance.
Regards,
Ghazali
It would be on my weekly outlook, but it is not a free report.
oohh k,
So henry how much does it cost? can you give me the link so i can have look about your paid service?
dear sir, to be frank your news really helpful altougth its really high technical thinking stuff. however i thank you for this remarkable news. i hope GBP goes buy today(27thjuly)
Many thanks henry…u are the best…..
Thank You Henry, great work.
Sir,
I thank and I thank you for being there. You are a wonderful blessing to the entire forex community.
Following your analysis gives the confidence to place trades that hardly miss the pips. You are my holy grail.
You are more than mentor to any one who cares. I can’t imagine placing trade with reference to your analysis.
Thank you so much and may God continue add more to your knowledge and reward you abundantly.
dear sir,
Good morning. first i will like to thank u for the event news u have been sending to me but i dont seen to understand it, ps can u help put me through on the meaning of those numbers and how i can use it for effective tradeing. thanks.
Thank you for alerting me on the 4 hour chat, i am able to get the perfect support and resistace points some thing i have been looking for. keep it coming. And i will also like you to be specific on the time for an expected movement of pips for each news. Thanks men!!!