Forex Signal AU Employment Change ( October 12, 2011 – 8:30pm EDT)

Forex Signal AUD/ USD (Wednesday October 12, 2011 – 8:30pm EDT) – AU Employment Change
We have AU Employment Change numbers due, please be mindful of the bellow trade plan and be diligent with your trading.

AU Employment Change
Forecast 10K
Previous -9.7K
Pair to trade: AUD/USD

Numbers we need:
BUY AUD/USD 35K
SELL AUD/USD -15K

Economical Impact: High
Typical Result: Good for Currency
Occurrence: monthly 10 days after month ends
Spike Probability: Good, we can see 40 pips on initial spike


About our Triggers:
AU Employment Change forecasted to arrive at 10K
We are looking for a deviation of 25K to the upside to BUY AUD/USD and a deviation of 25K to the downside to SHORT AUD/USD
So the summary is we get 35K or better I will look to enter a LONG position on AUD/ USD and if we get -15K or lower I will go SHORT on AUD/USD.
Should this report be triggered, we can expect to see about 40 pips on the initial spike.
This trade will have a good chance of a 30% retrace on the initial spike so I recommend trading the retracement method as stated bellow.

NOTE: We a conflict of AU Unemployment numbers that is due to arrive the same time, this is forecasted at 5.3% and is expected to come at 5.3%.

What is it? And why does the market care?
The Unemployment Rate is a measure of the percentage of the total labor force that is unemployed but actively seeking employment and willing to work in Australia.
A high percentage indicates weakness in the labor market. A low percentage is a positive indicator for the labor market in Australia and should be taken as positive for the AUD..

There is no Pre news; however in saying this we might see a little sell off in the AUD before the release.

I do recommend spike trading as an option. Liquidity is very good at the moment if you are using an ECN broker. Please use no more than a 15 pip limit order to control slippage.

I will look for a 30% retracement in the original spike before entering. I will be looking at a 5 minute chart. I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at the original spike price.

My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame to analyze this.

signal by Stavro D’Amore

AU Retail Sales m/m Forex Signal (October 4, 2011 – 8:30PM EDT) –

Forex Signal (Tuesday October 4, 2011 – 8:30PM EDT) – AU Retail Sales m/m
AU retail Sales m/m
Forecast 0.3%
Previous 0.3%
Pair to trade: AUD/USD

Numbers we need:
BUY AUD/USD 0.7%
SELL AUD/USD -0.1%


Economical Impact: High
Typical Result: Good for Currency
Occurrence 30 days after the month ends
Spike Probability: Good, we can see 40 pips on initial spike



About our Triggers:
AU retail Sales m/m is forecasted to arrive at 0.3%
We are looking for a deviation of 0.4% either way on this trade.
If we get 0.7% or better I will look to enter a LONG position on AUD/USD and if we get
-0.1% or worse I will go SHORT on AUD/USD.
Should this report be triggered, we can expect to see about 40 pips on the initial spike. This trade will have a good chance of a 50% retrace on the initial spike

What is it? And why does the market care?
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity. The Retail Sales is a monthly measurement of all goods sold by retailers based on a sampling of retail stores of different types and sizes in Australia. It is an important indicator of consumer spending and also correlated to consumer confidence and considered as a pace indicator of the Australian economy.

A higher than expected reading should be taken as positive/bullish for the AUD
A lower than expected reading should be taken as negative/bearish for the AUD

Method I use to trade this:


Please be diligent trading this report as Australian private capital expenditure is due out the same time; however I do not expect the numbers to conflict or still the light from the Retail sales sentiment.

Pre News trading
Approximately 5 minutes prior to the news release I will be looking for a short term SHORT position in AUD/USD.
I would be out of this trade 1 minute before the actual release, or to avoid any spreads that should widen.

After Spike
I will look for a 30% retracement in the original spike before entering a trade; I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry price. My TP level would be just before a resistance level or if the chart decides to form a support level, looking at a 15 minute chart time frame.

Spike
I do recommend spike trading as an option when there is great uncertainty in the markets; also the liquidity is very good at the moment if you are using an ECN broker. Please note that Australian data is known for Latency should the spike begin and your Auto clicker has not provided a number please cancel your spike trade to avoid yourself getting caught with slippage; you will have a better chance using retracement and pre news methods.

Signal by Stavro D’Amore

Forex Signals – EURUSD Bearish Hints

Daily Outlook: Our aggressive short from yesterday’s signal got stopped out,
to get short on the downside break of the rising trend support which got about +60 pips into the profit.

Trading Idea: Today we are tracking a new rising trend support (blue line above) and our primary trade will be short on a sustained break below this support (currently at 1.3600) with targets at 3580, 3555, 3525 and 3500 for 100 pips potential. If the sustained break closes too far below 3600 we will wait for a pullback to enter.