It’s Henry Liu here with this week’s upcoming news releases… and as usual, I’ll be sending you more detailed analysis for each and every one of the releases listed below just a day prior to their schedules. This week is GBP week, because we’ll be trading MPC Minutes, CPI, and Retail Sales… We may also get some pre-news trading opportunities… Exciting times!
1. Tue August 17, 2010 4:30am EDT – UK CPI y/y
2. Wed August 18, 2010 4:30am EDT – UK MPC Meeting Minutes
3. Thu August 19, 2010 4:30am EDT – UK Retail Sales
4. Fri August 20, 2010 7:00am EDT – CA Core CPI
…and some untradable releases…
- Mon August 16, 2010 9:00am EDT – US TIC Long-Term Purchases: Market just ignores this release.
- Tue August 17, 2010 5:00am EDT – EU German Zew Sentiment: Generally fundamental indicators do very little for the EUR.
- Tue August 17, 2010 8:30am EDT – U.S. Building Permits & PPI: Both releases are untradable because housing market has not changed much and inflation is not a primary concern for the Feds.
- Thu August 19, 2010 8:30am EDT – US Unemployment Claims: This is a weekly report, market impact is minimum.
- Thu August 19, 2010 10:00am EDT – US Philly Fed. Index: Only in extreme surprise releases we are likely t0 see market move. This is normally not tradable.
Like stated before, this week is GBP week, we’ll have to focus on Sterling as that’s the currency most traders will be looking at.
Following the tradition, let’s look at once again how the market ended last week & previous to last week.
The week of (8/2~6):
EUR gained 1.5% against USD
GBP gained 2.0% against USD
CAD remained unchanged
AUD gained 1.5% against USD
NZD gained 1.0% against USD
JPY gained 1.0% against USD
CHF remained unchanged
…and last week (8/9~13)
EUR lost 4.0% against USD
GBP lost 2.5% against USD
CAD lost 1.5% against USD
AUD lost 3.0% against USD
NZD lost 3.5% against USD
JPY lost 1.0% against USD
CHF lost 1.5% against USD
…clearly anyone who traded last week would agree that market trend has changed from dumping USD to buying USD, mostly due to risk aversion sentiment as general market seeks the safety of US Treasuries.
As I’ve said time and again, when we have a strong week, such as the one we saw last week, we are most likely to see some consolidation before the market moves further. I do believe that the short-term trend has changed towards pro-USD, but we may see some rebounding and consolidation… therefore, I believe we could get better positioning if we just remain a bit patient.
I’d still be looking to go LONG on USD/JPY and USD/CAD. I’d be looking at support levels to BUY these pairs if given the chance…
As far as EUR/USD is concerned. I’m eyeing the 1.2900~1.3000 area for possible SELL. Even though EUR/USD is at 1.2750 level at the time of this post, we could get a rally back above those levels on a positive news from Europe, possibly the German Zew Economic Sentiment on Tuesday. The idea is to wait for the release and look for the best area to sell. A positive ZEW release is NOT enough to change the trend on EUR. It may provide temporary support, but eventually EUR/USD will head towards the 1.2000.
As far as GBP is concerned, I’ll leave that for the daily analysis.
Thanks,
Henry Liu
Related posts:
- Upcoming Forex News Trade Forecast For August 1 ~ 5, 2011
- Upcoming Forex News Trade For August 8 ~ 12, 2011
- Upcoming High Impact Forex News For December 13 ~ 17, 2010
- Upcoming Signals Overview (June 13 ~ June 17, 2011)
- Upcoming News Releases Of the Week December 6 ~ 10, 2010
- Upcoming Tradable Forex News For January 17 ~ 21, 2011
- Upcoming Signals Overview (March 21 ~ 25, 2011)
- Upcoming Forex News for May 23 ~ 27, 2011
- Upcoming Forex News Trade For the Week of January 3 ~ 7, 2011
- Upcoming Forex Tradable News For January 31 ~ February 4, 2011
{ 20 comments… read them below or add one }
Hello Henry,
I just found your site while looking for ways to better determine supply/demand per international currency flow. I ran into your Currency Meter in the process.
As I watch the Meter I have a few questions about what I’m actually seeing.
1. What data is compiled to determine the strength ratings, and
2. Over what time period(s)
Knowing these would help greatly in determining the time periods most useful for chart comparison. You mention “..trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment.” Your answer would help bridge these analyses nicely.
Thank you.
Dorian Greer
Chandler, Arizona; USA
http://www.currencystrengthmeter.com/currency-strength-meter-a-closer-look/
I explain the meter in detail.
Awesome; and thanks for the prompt reply. I’ll be testing this at every opportunity.
from what i can see your news are commendable and accurate,just wanted to know if you have a live training and what the cost is.thanks a lot
Yes I have Mastermind Mentoring Program. It is closed until 2011.
However, I may have a lighter version of this program available next week. Make sure you are on my mailing list if you are interested.
Hello Henry,
Am new to forex news and and i dont know hw to determine whether value of currency is appreciate or depreciate after release of news. Is it when the actual % is higher than previous % after the release of news that the currency value is appreciate?
Please kindly assist me.
Regards,
Kamaru
Dear :
Henry Liu
I’m asking for free trial trading signal. Would you mind to give me free trial signal for a week ?
Thanks a lot for your help. God Bless U
Best regards,
Halimin
Sir,
Thank you for the guide. Your forecast is working for me but I was un able to more than 80pips out of the over 500pips moves of last week. Main reason I experienced difficulties with internet connectivity.
I understand the door to 10k–1M is closed. Please remember me during the next round. Thanks and may
the Living God continue to be with you and the lucky ones successfully enrolled.
From what I have seen your forecasts are you will hit your target before 12 months because God is with you.
Hi,
The bottom ads to receive free trade alerts doesnt work, it always says cant detect email even i entered the correct email.
Is there other way to get this alert?
thanks.
You can enter at the top right. It is the same list. Thanks
Thank you Henry but I am now getting very nervous……..I am a newby and I don’t understand the application of
the S -89…EXP +56 etc . Will this be explained on the course?……oh dear
If you are in either 10kto1mm or Mastermind Mentoring Course, please email me directly.
Hi Henry
Yes last week was one of my greatest, held on to EUR/USD (sell) a little long from Tuesday to Friday morning. The Pro USD sentiment was as sweet as chicken, in a nutshell the trade the retracement style paid off 360 pips. And now i’m trying have once again yet another rewarding sell – USD/JPY.
Smith.
i cannot get to enter trade the news site pls reccomend another site that is as good as them
Hi Henry,
May God Bles u with a lot happiness….
Thank you for being my Xavier, my account goes up slowly but sure coz following ur analysis (forgive my englais, so bad).
when i back into my own analysis, i got very big losses, so right now i decide to following you, is that okay to you…?
Im sory at this moment I cann not join your mentoring program as my money is still very limited.
So….. please keep posting….
I joined 10kto1mm last week but I can’t find the site to set up my SMS etc. Can anyone help me?
I filled in my sms no etc when I applied…..on the same form ?!?!?!?! Is one suppose to get a confirmation?????……….that I haven’t had…..so I am then also in the ”HELP” category…..oh dear
Based on what u said, you mean I should not be scared of news today if i want to trade EURUSD.
Thank you Henry once again. Every day I have reason to say thank you for your posts
Thanks man.