The Fundamental FOREX Blog

On Friday, 02-19-09 at 4:30 AM ET, the GBP Retail Sales MoM report was released.

This report was released with one other economic news report.

GBP Retail Sales YoY

I posted a “preview” post of this report, click here to see what happened.

This report is released by the U.K.s National Statistics on a monthly basis.

For an idea how this report worked out, here is what happened:

GBP Retail Sales MoM stats:

previous = 0.3%————-revised = 0.5%

forecast = -0.5%

Actual = -1.2%

Here is how I was set up and what happened:

GBP-2-30AM-02-19-10
Looking for a 1.0%  difference
Actual > Forecast = Good for GBP
GBP Retail Sales m/m
——actual———-forecast———-previous
________________-0.5%_________0.3%
_____-1.2% ______-0.5% ________0.5%
Out at -1.5% or lower -  SELL GBP/USD
Out at 0.5% or more -  BUY GBP/USD
Bad – “actual” came out lower then “forecast” by 0.7%
Bad – “actual” came out lower then “previous” by 1.5%
Bad – “actual” came out lower then revised “previous” by 1.7%

I executed 3 trades, losing 1 and winning 2.

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency chart

This EUR/GBP currency pair spiked up/down 1st minute about 23 PIPS/ 12 PIPS
Ranged

(EUR/JPY)

a one minute EUR/JPY currency chart

This EUR/JPY currency pair had  minor moves

(EUR/USD)

a one minute EUR/USD currency chart

This EUR/USD currency pair moved up 1st 5 minutes about 15 PIPS
Moved down next 37 minutes about 23 PIPS Ranged

(GBP/CHF)

a one minute GBP/CHF currency chart

This GBP/CHF currency pair spiked down/up 1st minute about 45 PIPS/ 22 PIPS
Ranged

(GBP/JPY)

a one minute GBP/JPY currency chart

This GBP/JPY currency pair spiked down/up 1st minute about 42 PIPS/ 22 PIPS
Ranged down for 27 minutes about 20 PIPS – right direction

(GBP/USD)

a one minute GBP/USD currency chart

This GBP/USD currency pair spiked down/up 1st minute about 44 PIPS/ 21 PIPS – first losing trade
Moved up next 4 minutes about 25 PIPS – wrong direction – entered 2nd trade
moved down for 24 minutes about 35 PIPS – right direction – entered 2nd trade – 2 winners

The next scheduled release of these reports is on Friday, 03-19-10 at 4:30 AM ET.

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

Stay tuned!