Tomorrow, Monday, 06-07-10 at 6:00 AM ET. The EUR – German Factory Orders MoM report will be released.
The German Factory Orders report is released on a monthly basis by Deutsche Bundesbank.
Last month I did a “follow up” post on Friday, 05-14-10 at 6:00 AM ET, click here to see the “follow up” of this report.
I executed 2 trades that day with the currency pair EUR/USD, both winners this time.
Let’s set this up:
EUR – German Factory Orders MoM stats:
Previous = 5.0%
Forecast = -0.1%
Here is how I am set up for tomorrow:
EUR-6-00AM-ET-06-07-10
Looking for a 1.3 difference
Actual > Forecast = Good for EUR
EUR German Factory Orders m/m
——actual——–forecast——–previous
______________-0.1%_______5.0%
Out at -1.4% or lower – SELL EUR/USD
Out at 1.2% 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 think the departure from the “forecast” is going to have to be big, maybe more than 2.0% 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 Wednesday, 07-07-10 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!
