The Fundamental FOREX Blog

On Monday, 07-07-10 at 6:00 AM ET. The EUR – German Factory Orders MoM were released.

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

Click here to see this months “preview” post of this report.

No trade was entered this time!

Here is what happened:

EUR – German Factory Orders MoM stats:

Previous = 2.8%————–revised= 3.2%

Forecast = 0.5%

Actual = -0.5%

Here is how I was set up and what happened:

EUR-6-00AM-ET-07-07-10
Looking for a 1.3 difference
Actual > Forecast = Good for EUR
EUR German Factory Orders m/m
——actual——–forecast——–previous
______________0.5%_______2.8%
_____-0.5%____ 0.5%______ 3.2%
Out at -0.8% or lower – SELL EUR/JPY
Out at 1.8% or higher – BUY EUR/JPY
Bad – “actual” came out lower then “forecast” by 1.0%
Bad – “actual” came out lower then “previous” by 3.3%
Bad – “actual” came out lower then revised “previous” by 3.7%

Here are the charts:

(EUR/CHF)

a one minute EUR/CHF chart

This currency pair EUR/CHF currency pair ranged!

(EUR/GBP)

a one minute EUR/GBP chart

This currency pair EUR/GBP- currency pair ranged for 4 minutes
Moved down for 6 minutes about 9 PIPS
Moved up for 42 minutes about 20 PIPS

(EUR/JPY)

a one minute EUR/JPY chart

This currency pair EUR/JPY- currency pair ranged down for 10 minutes
Moved up for 42 minutes about 46 PIPS

(EUR/USD)

a one minute EUR/USD chart

This currency pair EUR/ USD – currency pair moved down for 10 minutes about 15 PIPS
Moved up for 42 minutes about 40 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

This currency pair GBP/JPY- currency pair moved up for 55 minutes about 35 PIPS

(GBP/USD)

a one minute GBP/USD chart

This currency pair GBP/USD currency pair spiked down 1st minute
Ranged for 8 minutes
moved up for 46 minutes about 27 PIPS

The next scheduled release of this report is on Friday, 08-06-10 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!