Forex 30th Of June 2008 - Forex Forum

Hello traders!

Today in our economic calendar:

06:00 GMT: The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales.The changes are widely followed as an indicator of consumer spending. The positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

12:30 GMT: The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. A rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.

13:45 GMT: The Chicago Purchasing Managers Index released by the Kingsbury International captures business conditions across Illinois, Indiana and Michigan. This index is an indicator of business trends and it is interrelated with the ISM manufacturing Index. It is widely used to indicate the overall economic condition in US. A result above 50 is bullish for the USD, whereas a result below 50 is seen as bearish.

And don't forget tomorrow (1st of july) just before I get up:

04:00 GMT: RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

We'll check EUR, CAD and USD... And AUD for the Asian session

EUR:
- uptrend: EURUSD
- flat: EURJPY(-), EURAUD, EURGBP, EURCAD(+)
- downtrend: EURCHF
There is no global trend on EUR

USD:
-uptrend: AUDUSD, EURUSD, GBPUSD
-downtrend: USDCAD, USDCHF, USDJPY
USD moves down with all other currencies, the trend is strong.

CAD, there is no trend on CAD.

Hey,

how are you?

I'm short on AUDUSD ... as I thought it will be a reversal starting from 0.9650 ....
according to your analysis its still in an uptrend ....

any suggestions?

Hi Cipher,
AUD USD is still in an uptrend on hourly, 4 hours, daily and weekly chart.
I have a resistance at 0.9650 and it's not absurd to short around this level. But I never play the reverse, only the trend.