The Fundamental FOREX Blog

On Thursday, 07-22-09 at 4:30 AM ET, the GBP Retail Sales MoM report was released.

I posted a “preview” post of this report, click here to see what happened.

This report is released by the U.K.s National Statistics on a monthly basis.

For an idea how this report worked out, here is what happened:

GBP Retail Sales MoM stats:

previous = 0.6%————-revised = 0.8%

forecast = 0.5%

Actual = 0.7%

Here is how I was set up and what happened:

GBP-4-30AM-ET-07-22-10
Looking for a 1.0%  difference
Actual > Forecast = Good for GBP
GBP Retail Sales m/m
——actual——-forecast——-previous
_____________0.5%_______0.6%
______0.7%___ 0.5%______ 0.8%
Out at -0.5% or lower -  SELL GBP/CHF
Out at 1.5% or more -  BUY GBP/CHF
On retrace
Good – “actual” came out higher then “forecast” by 0.2%
Good – “actual” came out higher then “previous” by 0.1%
Bad – “actual” came out lower then revised “previous” by 0.1%

Did not enter a trade this time!

Here are the charts:

(EUR/GBP)

a one minute EUR/GBP currency chart

This EUR/GBP currency pair moved down for  60 minutes about 27 PIPS – right direction

(EUR/JPY)

a one minute EUR/JPY currency chart

This EUR/JPY currency pair moved up for  32 minutes about 60 PIPS

(EUR/USD)

a one minute EUR/USD currency chart

This EUR/USD currency pair moved up for  32 minutes about 23 PIPS

(GBP/CHF)

a one minute GBP/CHF currency chart

This GBP/CHF currency pair moved up 1st 2 minutes about 30 PIPS – right direction
Moved down next 2 minutes about 24 PIPS – wrong direction
Moved up next 16 minutes about 33 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY currency chart

This GBP/JPY currency pair moved up 32 minutes about 94 PIPS – right direction

(GBP/USD)

a one minute GBP/USD currency chart

This GBP/USD currency pair moved up 32 minutes about 80 PIPS – right direction

The next scheduled release of these reports is on Friday, 08-20-10 at 4:30 AM ET.

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

Stay tuned!