The Fundamental FOREX Blog

On Monday 03-08-10 at 5:01 PM ET, the GBP RICS House Price Balance
report was released.

This report will be released with one other economic news report -

GBP BRC Retail Sales Monitor y/y

This was 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 this month and the results:

GBP RICS House Price Balance Stats:

Previous = 32%

Forecast = 34%

Actual = 17%

Here is how I was set up this month and the results:

GBP 5-01PM-03-08-10-risky
Looking for a 2.0% difference
Actual > Forecast = Good for GBP
GBP RICS House Price Balance
——actual———-forecast———-previous
________________34%__________32%
______17% ______34% __________31%
Out at 36% or higher – BUY GBP/JPY
Out at 32% or lower – SELL GBP/JPY
Bad – “actual” came out lower then “forecast” by 19%
Bad – “actual” came out lower then “previous” by 15%
Bad – “actual” came out lower then revised “previous” by 14%

I did execute a trade of the GBP/JPY currency pair – 2 winners!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP chart

This EUR/GBP currency pair moved up for 20 minutes about 8 PIPS

(GBP/CAD)

a one minute GBP/CAD chart

This GBP/CAD currency pair ranged for 15 minutes
Moved down for 3 minutes about 14 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down for 20 minutes about 35 PIPS – right direction
I did execute a trade here of the GBP/JPY currency pair – 2 winners!

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down for 20 minutes about 24 PIPS – right direction

I will post a “follow up” of this report soon after.

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!