Forex Fundamental Analysis - 26 October 2007


Fundamental Analysis



Friday, October 26th, 2007 (--:-- -.-. New York Time) DAY OFF ;-)
Tomorrow there is absolutely nothing that is worthy watching and possibly trading. It is one of a very few Fridays that we can take off.

Sunday, October 28th, 2007 (5:45 p.m. New York Time) NEW ZEALAND
On Sunday at 5:45 p.m. New York time we will have New Zealand Trade Balance coming out. It is expected to come out at -725 M. If it comes out at -1B or more negative, I think NZD/USD may possibly go down by around 30 pips or more in the first hour of the report. On the other hand, if it comes out at -500 M or less negative, I think NZD/USD may possibly go up by 30 pips or more in the first hour of the report. I discourage you to trade the spike here; rather wait for the retracement, and try to enter within 5 pips of the pre-release price, and maybe try 10 pips stop-loss and 30 pips take-profit. Most likely it is going to spike, then retrace providing a very good opportunities to enter at a good price.

Monday, October 29th, 2007 (--:-- -.-. New York Time) DAY OFF ;-)
Then we have nothing going on on Monday so you can take this day off as well.

Tuesday, October 30th, 2007 (10:00 a.m. New York Time) USA
On Tuesday at 10 a.m. New York time we will have U.S. Consumer Confidence coming out. It came out 99.8 last month, and it is expected to come out at 100.0 this month. If it comes out at 105.0 or more positive, I think GBP/USD may possibly go down by 40 pips or more in the first hour of the report. On the other hand, if it comes out at 95.0 or lower, I think GBP/USD may possibly go up by 40 pips or more in the first hour of the report.

SUMMARY:
* Report: US Consumer Confidence
* Sell on GBP/USD if the number will be 105.0 or better
* Buy on GBP/USD if the number will be 95.0 or worse
* If the trigger is hit, expect 40 pips or more in the first hour of the report.

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