The Fundamental FOREX Blog

On Wednesday, 06-23-10 at 10:00 AM ET, the USD New Home Sales report was  released by the Census Bureau

I did a “preview” of these reports on Tuesday, 06-22-10 at 10:00 AM ET, click here for a review.

Here is what happened:

USD – New Home Sales – Stats

Previous = 504K ————-revised = 446K

Forecast = 424K

Actual = 300K

I was looking for a 30K difference of the “actual” above or below the “forecast” as the point to enter my trade, which it did – I entered 1 trade – a loser

Here is how I was set up and the results:

USD-10-00AM-ET-06-23-10
Looking for a 30K difference
Actual > Forecast = Good for USD
USD New Home Sales
——actual———-forecast——-previous
________________424K______504K
_____300K______ 424K______ 446K
Out at 394K or lower – BUY EUR/USD
Out at 454K  or higher- SELL EUR/USD
Bad – “actual” came out lower then “forecast” 124K
Bad – “actual” came out lower then “previous” 204K
Bad – “actual” came out lower then revised “previous” 146K

I did execute 1 trade of the EUR/USD – a loser

Here are the charts.

(EUR/JPY)

a one minute EUR/JPY chart

The EURJPY currency pair moved down for 7 minutes about 40 PIPS
Moved up for 52 minutes about 42 PIPS

(EUR/USD)

a one minute EUR/USD chart

The EUR/USD currency pair moved down for 7 minutes about 29 PIPS – wrong direction
Moved up for 48 minutes about 31 PIPS – right direction
Had a losing trade here!

(GBP/JPY)

a one minute GBP/JPY chart

The GBP/JPY currency pair moved down for 5 minutes about 26 PIPS – right direction
Ranged for 6 minutes
Ranged up

(GBP/USD)

a one minute GBP/USD chart

The GBP/USD currency pair moved down for 5 minutes about 32 PIPS – right diretion wrong direction
Ranged for 6 minutes
Moved up

(USD/CAD)

a one minute USD/CAD chart

The USD/CAD currency pair moved up for 11 minutes about 43 PIPS wrong direction
Ranged for 20 minutes

(USD/JPY)

a one minute USD/JPY chart

The USD/JPY currency pair spiked down/up 1st minute about 15 PIPS/ 5 PIPS
Ranged for 32 minutes

The next schedule release of these reports will be on Monday, 07-26-10 at 10:00 AM ET.

I will probably post a “preview” a day or two prior.

Stay tuned!