The Fundamental FOREX Blog

Tomorrow, Monday, 11-23-09 at 10:00 AM ET 2 USD reports are to be released, these are the Existing Home Sales and Existing Home Sales MoM reports, released monthly by the National Association of Realtors.

Probably the most important report of the 2 is the “Existing Home Sales”.

These reports are “stand-alone” reports this time – no one is schedule to speak.

I did a “follow up” post on Saturday, 10-24-09 for last months reports, click here for a review.

The last months reports were good for the USD, I was set up and traded the EUR/USD and had two winning “scalps“. However, the currency pair USD/CAD would have been better to trade.

I will be setting up to trade the currency pair EUR/USD if there is 20K difference between the “actual” and the “forecast“.

Here are the stats for this month:

USD Existing Home Sales stats:

Previous = 5.57 M

Forecast = 5.72 M

USD Existing Home Sales  MoM stats:

Previous = 9.4%

Forecast = 2.3%

This “forecast” indicates that there will be an increase of home sales of about 15,000 homes over last months sales, and a decrease in the Month over Month existing home sales.

For the ideal trade set up, watch that both reports move in the same direction.

I think that a good difference between the “actual” and the “forecast” of say 20K or more could present a brief “scalp” opportunity with the currency pair EUR/USD or the USD/CAD and perhaps some of the other currency pairs.

I will be writing a “follow up” post on the results of this report, probably this weekend.

The next release of theses reports will be on Monday, 12-22-09 at 11:00 AM ET.

I did post a “follow up” on the results of this report, click here to see what happened.

So, stay tuned!