The Fundamental FOREX Blog

On Tuesday, 06-22-10 at 10:00 AM ET 1 USD report was released, it was the USD Existing Home Sales report, released monthly by the National Association of Realtors.

This report was released alone with 4 others:

USD Treasury Sec Geithner Speaks

USD-HPI MoM
USD-Richmond Manufacturing Index
EUR Consumer Confidence

I did a “preview” post on Monday, 06-21-10 for these reports, click here for a review.

Here are the stats for this month:

USD Existing Home Sales stats:

Previous = 5.77 M———-revised = 5.79 M

Forecast = 6.23 M———-revised = 5.17 M

Actual = 5.66 M

This “forecast” indicated that there would be an increase of home sales over last months sales, but it did not come out that way.

Here is how I was set up for these reports, and the results:

USD-10-00AM-ET-06-22-10
Looking for a 20K difference
Actual > Forecast = Good for USD
USD Existing Home Sales
——actual——–forecast———-previous
______________6.23M________5.77M
____5.66M____  6.17M                5.79M
Out at 6.43M or Higher – BUY USD/CAD
Out at 4.03M or Lower- SELL USD/CAD
Bad – “actual” came out lower then “forecast” by 0.57M
Bad – “actual” came out lower then revised “forecast” by 0.51M
Bad – “actual” came out lower then “previous” by 0.11 M
Bad – “actual” came out lower then revised “previous” by 0.13 M

I did execute a trade of the USD/CAD and it was a winner!

Let’s take a look at the charts and see how things worked out:

(EUR/JPY )

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down for 5 minutes about 22 PIPS
Moved up next 8 minutes about 21 PIPS
Moved down for 23 minutes about 32 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair ranged down for 37 minutes about 27 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair ranged down for 23 minutes about 49 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair ranged down for 23 minutes about 40 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up 1st 3 minutes about 16 PIPS – wrong direction
Ranged for 5 minutes
Moved down next 4 minutes about 10 PIPS – right direction
Moved up for 11 minutes about 34 PIPS – wrong direction
Had a winning trade here!!

(USD/JPY)

a one minute USD/JPY chart

This USD/JPY currency pair spiked down/up 1st minute about 11 PIPS/10 PIPS
Moved down next 4 minutes about 9 PIPS – right direction
ranged up for 16 minutes – wrong direction

The next scheduled release of this report will be Thursday, 07-22-10 at 10:00 AM ET. A month is a long time, re-scheduling can occur any time.

I will probably be writing a “preview” post for this up-coming report.

So, stay tuned!