On Tuesday, 06-29-10, at 10:00AM ET the USD Consumer Confidence report was released.
The last “preview” was posted on Monday, 06-28-10, click here for a review.
The Consumer Confidence is released by The Conference Board, Inc.
Lets take a look at what is going on with this news release:
USD Consumer Confidence Stats:
Previous = 63.3———– revised = 62.7
Forecast = 62.6———– revised = 62.8
Actual = 52.9
Here is how I was set up, and the results:
USD-10-00AM-06-29-10
Looking for a 5.0 difference
Actual > Forecast = Good for the USD
USD CB Consumer Confidence
——actual——–forecast——–previous
______________62.6_________63.3
_____52.9_____ 62.8_________ 62.7
out at 67.8 or higher – BUY USD/JPY
out at 57.8 or lower – SELL USD/JPY
Bad – “actual” came out lower then “forecast” by 9.7
Bad – “actual” came out lower then revised “forecast” by 9.9
Bad – “actual” came out lower then “previous” by 10.4
Bad – “actual” came out lower then revised “previous” by 9.8
Traded the currency pair USD/JPY and had 2 wins!!
I had set to trade the currency pair USD/JPY with a 5.0 difference between the “actual” and the “forecast”.
Well, the “actual” did come out greater then the 5.0 difference – so, a trade!
Check out the charts.
(EUR/JPY)
a one minute EUR/JPY chart
The currency pair EUR/JPY moved down for 27 minutes about 72 PIPS
(EUR/USD)
a one minute EUR/USD chart
The currency pair EUR/USD moved down for 21 minutes about 30 PIPS - wrong direction
(GBP/JPY)
a one minute GBP/JPY chart
The currency pair GBP/JPY moved down for 26 minutes about 78 PIPS
(GBP/USD)
a one minute GBP/USD chart
The currency pair GBP/USD moved down 1st 6 minutes about 30 PIPS – wrong direction
Moved up next 6 minutes about 30 PIPS – right direction
(USD/CAD)
a one minute USD/CAD chart
The currency pair USD/CAD moved up 1st 6 minutes about 39 PIPS – wrong direction
Moved down next 9 minutes about 16 PIPS – right direction
(USD/JPY)
a one minute USD/JPY chart
The currency pair USD/JPY moved down for 28 minutes about 41 PIPS – right direction
Traded the currency pair USD/JPY and had 2 wins!!
The next release of these reports will be on Tuesday, 07-27-10 at 10:00 AM ET.
I will probably post a “preview” a day or two prior.
Past performances are not an indication of future results.
So—Stay tuned!
2 Trackbacks
[...] did post a “follow up” soon after, click here to see what [...]
[...] last “follow up” was posted on Tuesday, 07-06-10, click here for a [...]