Forex Trading Signals by Magister Pips, 2012/01/27
9:55 USD UoM Consumer Sentiment (74.0 expected, 74.0 prior, 72.5 to 76.0 range)
This one continues to hava very high expectations, it is back near the highs seen in Feb and late
Spring 2011. This is not one to spike trade, but rather better to watch and wait and look to get
into a trend that forms, at the same time the reaction could be short lived. Last time this was
released was Friday january 13th when France and other eurozone countries were downgraded by S&P.
No body cared about this figure and the heavily risk off continued for another 30-45 minutes after
the release. The top end expectation at 76 is quite high and this would be the highest figure for
sometime, as would anything over 75.5 be the highest since Nov 21st 2008 when it printed 76.1. So
a deviation of about 5.0 either way can be good, as mentioned a +/-3.0 can work but then might it
might not work right away, there could be some initial whipsaw before it begins to trend. A +/-5.0
should work better, of course if a +5.5 is hit then it would be pretty risk on. A lower figure on
this could continue the move down since the slightly worse US GDP, a better number might help the
bounce off the lows that have occurred since the US open.
If it comes out at 79.0 or higher, buy USDJPY for 20-30 pips or buy CADJPY/DAX/EMiniS&P500
if it comes out at 69.0 lower, sell USDJPY for 20-30 pips or sell CADJPY/DAX/EMiniS&P500
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