The Fundamental FOREX Blog

On Tuesday, 01-19-10 at 5:00 AM ET, the EUR German ZEW Survey  Economic Sentiment and EUR – EURO-Zone ZEW Survey Economic Sentiment reports were released.

Also, three other reports – these may not have any influence on the currency markets.

EUR German ZEW Survey (Current Situation)
EUR Euro-Zone Construction Output s.a. (MoM)
EUR Euro-Zone Construction Output w.d.a. (YoY)

The EUR reports are released by the Centre for European Economic Research (ZEW)

I did a “preview” post of this months report, click here for a review.

The EUR – German ZEW Survey Economic Sentiment appears to have the greatest impact on the market.

Here was the set up for 01-19-10 and the results:

EUR German ZEW Economic Sentiment Stats:

previous = 50.4

forecast = 49.9

actual = 47.2

EUR EURO-Zone ZEW Survey Economic Sentiment Stats:

previous = 48.0

forecast = 48.2

actual = 46.4

Here is how I was set up:

EUR-3-00AM-01-19-10
Looking for a 10.0 difference
Actual > Forecast = Good for EUR
EUR German ZEW Economic Sentiment
——actual———-forecast———-previous
____47.2_________49.9________50.4
39.9 or less SELL EUR/JPY
59.9 or more BUY EUR/JPY
Bad – “actual” came out lower then “forecast” by 2.7
Bad – “actual” came out lower then “previous” by 3.2

EUR ZEW Economic Sentiment 46.4__ 48.2__ 48.0
Bad – “actual” came out lower then “forecast” by 1.8
Bad – “actual” came out lower then “previous” by 1.6

There was not enough “difference” for a good trade!!

However, I went against my own rules and entered two trades – both losers.

Here are the charts:

a one minute EUR/CHF chart

This EUR/CHF currency pair had a minor move down/up

a one minute EUR/GBP chart

This EUR/GBP currency pair moved down for 10 minutes about 13 PIPS
Ranged

a one minute EUR/JPY chart

This EUR/JPY currency pair spiked down 1st minute about 18 PIPS
Move up next 5 minutes about 20 PIPS – entered 2 trades
Move down next 6 minutes about 18 PIPS
Move up next 19 minutes about 26 PIPS – lost on both trades

a one minute EUR/USD chart

This EUR/USD currency pair move down for 60 minutes about 50 PIPS - right direction

a one minute GBP/JPY chart

This GBP/JPY currency pair move up for 27 minutes about 40 PIPS after initial spike down

a one minute GBP/USD chart

This GBP/USD currency pair minor move 1st 6 minutes about 16 PIPS
move down next 8 minutes about 30 PIPS

The next reports are scheduled for Tuesday, 02-16-10 at 5:00 AM ET, I have noticed lately that schedules are sometimes changed during the time periods between scheduled reports.

I will probably post a “preview” a day or two prior.

Stay tuned!