Tomorrow, Monday 03-08-10 at 5:01 PM ET, the GBP RICS House Price Balance report will be released.
This report will be released with one other economic news report -
GBP BRC Retail Sales Monitor y/y
This is my first posting of these reports.
The RICS House Price Balance report is released by the U.K.s RICS, Royal Institution of Chartered Surveyors on a monthly basis.
GBP BRC Retail Sales Monitor y/y is released by the British Retail Consortium.
Here is the set up for last month and the results:
GBP RICS House Price Balance Stats:
Previous = 30%
Forecast = 28%
Actual = 32%
Here is how I was set up last month and the results:
GBP 7-01PM ET-02-08-10-risky
Looking for a 2.0% difference
Actual > Forecast = Good for GBP
GBP RICS House Price Balance
——actual———-forecast———-previous
________________29%__________30%
_____32%_______ 28%__________ 30%
Out at 31% or higher – BUY GBP/JPY
Out at 27% or lower – SELL GBP/JPY
Good – “actual” came out higher then “forecast” by 4%
Good – “actual” came out higher then “previous” by 2%
I did execute a trade of the GBP/JPY currency pair – a winner!
Here are the charts:
(EUR/GBP)
a one minute EUR/GBP chart
This EUR/GBP currency pair moved down for 6 minutes about 10 PIPS
Ranged!
(GBP/CAD)
a one minute GBP/CAD chart
This GBP/CAD currency pair moved up for 6 minutes about 23 PIPS – right direction
Ranged!
(GBP/JPY)
a one minute GBP/JPY chart
This GBP/JPY currency pair moved up for 20 minutes about 48 PIPS – right direction
Entered a small winning trade here!
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair moved up for 20 minutes about 35 PIPS – right direction
Here is the set up for this month:
GBP – RICS House Price Balance stats:
previous = 32%
forecast = 36%
Here is how I am set up for a possible trade.
GBP 7-01PM ET-03-08-10
Looking for a 2.0% difference
Actual > Forecast = Good for GBP
GBP RICS House Price Balance
——actual———-forecast———-previous
________________36%__________32%
Out at 38% or higher – BUY GBP/JPY
Out at 34% or lower – SELL GBP/JPY
I did post a “follow up” of this report soon after, click here to see what happened.
The next scheduled release of these reports is on Monday, 04-12-10 at 6:01 PM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
