The plan for Existing Home Sales release from U.S. will be the typical retracement trading method, where we’ll wait for the release and then wait for a decent retracement before getting into a trade.  Here is the forecast for this release:

10:00am NY Time US Existing Home Sales    Forecast 6.17M     Previous 5.77M
ACTION: USD/JPY          BUY 6.60M            SELL 5.80M

The plan for Existing Home Sales release from U.S. will be the typical retracement trading method, where we’ll wait for the release and then wait for a decent retracement before getting into a trade.  Here is the forecast for this release:

10:00am NY Time US Existing Home Sales    Forecast 5.62M     Previous 5.35M
ACTION: USD/JPY          BUY 6.00M            SELL 5.20M

Our strategy to trade this Existing Home Sales release from U.S. will be the typical retracement trading method, where we’ll wait for the release, wait for market to spike, and then wait for a decent retracement before getting into a trade.  Here is the forecast for this release:

10:00am NY Time US Existing Home Sales    Forecast 5.28M     Previous 5.02M
ACTION: USD/JPY          BUY 5.68M            SELL 4.88M

10:00am NY Time US Existing Home Sales    Forecast 5.01M     Previous 5.05M
ACTION: USD/JPY          BUY 5.40M            SELL 4.60M

We’ll be looking forward to trade the U.S. Existing Home Sales today, and since Housing news is one of the more important news event out of the US, this news release will certainly cause some volatility in the market, especially if our tradable figures were hit. 

10:00am NY Time US Existing Home Sales    Forecast 5.51M     Previous 5.45M
ACTION: USD/JPY          BUY 5.90M            SELL 5.10M

We’ll be focusing on trading the Existing Home Sales today, and since Housing news is one of the more important news event out of the US, this news release will certainly cause some volatilit,y especially if our tradable figures were hit.  Given the fact that this is the last high impact news release of the week, we could expect to see some traders waiting for this release before committing to a trade…

10:00am NY Time US Existing Home Sales    Forecast 5.95M     Previous 6.54M
ACTION: USD/JPY          BUY 6.35M            SELL 5.55M

We’ll be trading the Existing Home Sales, and since Housing news is one of the more important news event out of the US, this news release will certainly cause some volatility especially if our tradable figures were hit. It is important to consider that if we get a better than expected release, USD could suffer somewhat from risk appetite sentiment as signs of housing recovery translate into equity gains; however, a worse release may boost USD demand as investors seek safe-haven shelter in U.S. Treasury.  But the reaction of USD may be different against other pairs… for instance, a better release should be bearish for EUR/USD; a worse than expected release will be bad for USD/JPY…