The Fundamental FOREX Blog

Tomorrow, Thursday, 02-04-10 at 6:00 AM ET. The EUR – German Factory Orders MoM and YoY will be released.

The German Factory Orders reports are released on a monthly basis by Deutsche Bundesbank.

The last release was on Monday, 01-07-10 at 6:00 AM ET, click here to see the “follow up” of these reports.

I did a small winning trade that day with the currency pair EUR/USD.

Let’s set this up, I focus mainly on the month-over-month Factory Orders:

EUR – German Factory Orders MoM stats:

Previous = 2.8%

Forecast = 0.2%

Here is how I am set up for tomorrow:

EUR-4-00AM-02-04-10
Looking for a 1.3% difference
Actual > Forecast = Good for EUR
EUR German Factory Orders m/m
——actual———-forecast———-previous
________________0.2%________2.8%
Out at -1.1% or lower – SELL EUR/USD
Out at 1.5% or higher – BUY EUR/USD

I think I will try a trade of the EUR/USD currency pair again – it seemed to move better last month, however, the currency pair EUR/CHF would have been a much more reliable trade in the long run.

I am not too happy trading the CHF, since my broker takes a large spread.

I think the departure from the “forecast” is going to have to be big, maybe more than 5% either way.

I did post a “follow up” soon after this report, click here to see what happened.

The next schedule for this EUR – German Factory Orders report will be on Thursday, 03-04-10 at 6:00 AM ET.

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

Remember, “Past performances are not an indication of future results!”

Stay tuned!