Trading Economics

forker

Senior member
2,688 500
Meant to update earlier but have been busy. Only one trade today in the am on eurgbp off the back of the uk news. Will update later
 

gerryg

Established member
900 7
For those of you wondering how I track news real-time here is what I am focused on today. 2 separate news feeds in Eikon along with real-time economic releases. $99 a month http://www.metastock.ca/data/xenith.aspx is the best money you will invest in trading FX. Any special events i just create a dedicated news feed that gives me live commentary (the red lines) as well as recently written news articles

Is it available for MT4? Can be used as separate plugin?
 

forker

Senior member
2,688 500
Meant to update earlier but have been busy. Only one trade today in the am on eurgbp off the back of the uk news. Will update later

okay so as you probably know today on the wire was the news of the government considering paying a fee for single market access. This sort of news is a great catalyst for a session trade. The obvious candidate was eurgbp with the euro being weak at the moment. I was about 5 minutes late on getting in although i managed 44 pips getting out at the 84 handle. The rest of today was supportive of the $ so no deviation to take advantage of. Unless there is a deviation tomorrow i don't expect a major move unless its a deviation to the upside or downside. Be aware with Italy over the weekend that we might see some profit taking and potentially safe haven flows. Keep an eye on yen,swissy and gold as the trigger to get in on the action.
 

forker

Senior member
2,688 500
The NFP number wasn't anything special however unemployment deviation with high estimate of 5 and a low of 4.8 with the actual being 4.6.

Productivity with a high of 1.1 and a low of 1.0 with actual 1.2

both good deviations to trade however average earnings MoM had a high of 0.3 and a low of 0.1 with an actual of -0.1


so a mixed bag and nothing to write home about so my thinking is its the end of the week, profit taking as well as Italy which will sway a risk off sentiment. I am thinking to get short $jpy
 

counter_violent

Legendary member
11,266 3,005
The NFP number wasn't anything special however unemployment deviation with high estimate of 5 and a low of 4.8 with the actual being 4.6.

Productivity with a high of 1.1 and a low of 1.0 with actual 1.2

both good deviations to trade however average earnings MoM had a high of 0.3 and a low of 0.1 with an actual of -0.1


so a mixed bag and nothing to write home about so my thinking is its the end of the week, profit taking as well as Italy which will sway a risk off sentiment. I am thinking to get short $jpy

Given that there are Two primary market states, risk on or off, I'm a bit surprised that indices don't seem to figure in your list of tradable instruments. Is there a reason why not?
 

forker

Senior member
2,688 500
I do look at indices but only as part of inter-market analysis. The reason I don't trade them in the framework of risk on\off, is because I would be opening up multiple positions for the same thing. These markets as you know are so interconnected that there are always opportunities to be had in currencies.
 

counter_violent

Legendary member
11,266 3,005
I do look at indices but only as part of inter-market analysis. The reason I don't trade them in the framework of risk on\off, is because I would be opening up multiple positions for the same thing. These markets as you know are so interconnected that there are always opportunities to be had in currencies.

Quite so, we do exactly the same thing. I trade the indices and use the currencies to inform.
 

forker

Senior member
2,688 500
It's rumoured that the ECB are going to announce an extension to the QE program. Based on Draghi's comments recently, they have every expectation to continue with it for the time being with no hope of things improving. He pointed out that reforms need to happen and their policies were limited.

The EU is sitting on 10% GDP after you deduct the debt. To put it into perspective, last year their GDP was 11539.74 billion and 90% of that, or 10385.77 is debt.

Now consider they cannot make all their payments monthly and have to lend more to meet obligations. Adding this extension to what is already an extraordinary QE program is only going to put them deeper in the hole.

We might see lows in eurusd printed soon that were last seen in 2003.
 

forker

Senior member
2,688 500
Sunday has the potential to give an early entry into several sessions of safe haven flows.
 
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counter_violent

Legendary member
11,266 3,005
It's rumoured that the ECB are going to announce an extension to the QE program. Based on Draghi's comments recently, they have every expectation to continue with it for the time being with no hope of things improving. He pointed out that reforms need to happen and their policies were limited.

The EU is sitting on 10% GDP after you deduct the debt. To put it into perspective, last year their GDP was 11539.74 billion and 90% of that, or 10385.77 is debt.

Now consider they cannot make all their payments monthly and have to lend more to meet obligations. Adding this extension to what is already an extraordinary QE program is only going to put them deeper in the hole.

We might see lows in eurusd printed soon that were last seen in 2003.

2003 low was 1.05040 , it was already close to that last week @ 1.05172. Do you mean 2002 area? Range 0.85730 - 1.05050

Fwiw, I have 0.92000 - 0.96000 pencilled in as a target zone.
 

forker

Senior member
2,688 500
2003 low was 1.05040 , it was already close to that last week @ 1.05172. Do you mean 2002 area? Range 0.85730 - 1.05050

Fwiw, I have 0.92000 - 0.96000 pencilled in as a target zone.
Oh I wasn't referring to an exact level although my reference was a break of this congestion area where its been for a while (look at monthly). Will probably look at eurjpy as the instrument if we get a no in Italy. Also on the lookout is Austria. As to targets I am looking at parity in eurusd.
 

forker

Senior member
2,688 500
80 pips locked away thank you risk off.
Eurjpy was the one to be trading. Risk off added to weak euro against the safe haven yen and you have a trade opportunity.
 
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