Wednesday, July 23, 2008
at
15:29
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Let's talk about Wednesday.
1. Wednesday, July 23rd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have BOE and the vote is expected 8:1 for no change. If you are new in Forex, don't trade it. If you want to trade it, watch the video.
2. Wednesday, July 23rd, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian CPI Core m/m which is expected to come out at 0.1%. If it comes out at 0.3% or higher, I would sell USD/CAD and look for 40 pips move. If it comes out at -0.1% or lower, I would buy USD/CAD and expect 40 pips as well. Bank of Canada may react on higher inflation so I think this may create more long term move.
3. Wednesday, July 23rd, 2008 (5:00 p.m. New York Time) NEW ZEALAND
At 5:00 p.m. we will have Interest Rate statement out of New Zealand. It is expected they will hold the rates at 8.25%. If it comes out at 8.00% or lower, I would sell NZD/USD and look for 50 pips price action. If they hike the rates, I would buy NZD/USD and expect 50 pips move. If they hold the rates at 8.25%, NZD/USD may go up a little and you may want to scalp a few pips but be extremely careful.
Happy Trading!!
1. Wednesday, July 23rd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have BOE and the vote is expected 8:1 for no change. If you are new in Forex, don't trade it. If you want to trade it, watch the video.
2. Wednesday, July 23rd, 2008 (7:00 a.m. New York Time) CANADA
At 7:00 a.m. we will have Canadian CPI Core m/m which is expected to come out at 0.1%. If it comes out at 0.3% or higher, I would sell USD/CAD and look for 40 pips move. If it comes out at -0.1% or lower, I would buy USD/CAD and expect 40 pips as well. Bank of Canada may react on higher inflation so I think this may create more long term move.
3. Wednesday, July 23rd, 2008 (5:00 p.m. New York Time) NEW ZEALAND
At 5:00 p.m. we will have Interest Rate statement out of New Zealand. It is expected they will hold the rates at 8.25%. If it comes out at 8.00% or lower, I would sell NZD/USD and look for 50 pips price action. If they hike the rates, I would buy NZD/USD and expect 50 pips move. If they hold the rates at 8.25%, NZD/USD may go up a little and you may want to scalp a few pips but be extremely careful.
Happy Trading!!
Posted by
bugatti's way
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