The Fundamental FOREX Blog

Tomorrow, Thursday, 05-06-10 at 6:00 AM ET. The EUR – German Factory Orders MoM will be released.

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

Last month I did a “follow up” post on Saturday, 03-13-10 at 6:00 AM ET, click here to see the “follow up” of these reports.

I executed 2 trades that day with the currency pair EUR/USD, both losers.

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

EUR – German Factory Orders MoM stats:

Previous = 0.0%

Forecast = 1.3%

Here is how I am set up for tomorrow:

EUR-4-00AM-05-06-10
Looking for a 1.3 difference
Actual > Forecast = Good for EUR
EUR German Factory Orders m/m
——actual———-forecast———-previous
________________1.3%________0.0%
Out at 0.0% or lower – SELL EUR/USD
Out at 2.6% or higher – BUY EUR/USD

I think I will try a trade of the EUR/USD currency pair again – it seemed to move better with this report.

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 Monday, 06-07-10 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!