Comment On Forex - 9th Of July - Forex Forum

Hello!

I have corrected some bugs on the forum, it should work better now...

A lot of news today in our economic calendar:

6:00 GMT: The Trade Balance released by the Statistisches Bundesamt Deutschland is a balance between exports and imports of total goods and services. A positive value shows a trade surplus, while a negative value shows a trade deficit. It is an event that generates some volatility for the EUR. If a steady demand in exchange for German exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the EUR.

7:00 GMT: Jean Claude Trichet gives a press conference as to how the ECB observes the current European economy and the value of EUR. His comments may determine a short-term positive or negative trend. If he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).

8:30 GMT: The trade balance released by the National Statistics is a balance between exports and imports of goods A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the GBP. If a steady demand in exchange for UK exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the GBP.

9:00 GMT: The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. A rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish ).

9:30 GMT: The British Retail Consortium (BRC) Shop Price Index measures price changes in the popular retail outlets in the UK. The changes in the SPI are widely followed as an indicator for inflationary pressures. A high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

12:15 GMT: The Housing Starts released by the Canadian Mortgage and Housing Corporation captures how many new single-family homes or buildings were constructed. It shows the strength of the Canadian housing market, which can be considered as the economy as a whole due to Housing Starts' sensitivity to changes in the business cycle. A high reading is seen as positive (or bullish) for the CAD, while a low reading is seen as negative (or bearish).

23:50 GMT: The Trade Balance released by the Customs Office is a measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependant on exports that the Japanese economy heavily relies on a trade surplus. If a steady demand in exchange for Japanese exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the JPY.

Interesting configurations

AUD USD 4H: the price broke a support


EUR JPY daily: Bollinger bands are contracted. and we approach the support of the uptrend.


GBP JPY daily+weekly: Bollinger bands are contracted and wee are near a weekly resistance.


GBP USD 4H: in a short term downtrend.

pls how do you trade the news

I trade the news sometimes but it's not the best way to make money with my system.

pls whats the best way i think that should be technical if that is so then ill be very happy checking out your forex analysis everyday and following it.
thanks

In my opinion, the best way is to follow the trend

Thanks a lot i will stick with your forex analysis.