The Fundamental FOREX Blog

On Monday, 07-26-10 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 Sunday, 07-25-10 at 10:00 AM ET, click here for a review.

Here is what happened:

USD – New Home Sales – Stats

Previous = 300K ————-revised = 267K

Forecast = 317K

Actual = 330K

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 not – I did not entered a trade!!

Here is how I was set up and the results:

USD-10-00 AM-ET-07-26-10
Looking for a 30K difference
Actual > Forecast = Good for USD
USD New Home Sales
——actual———-forecast——-previous
________________317K______300K
_____330K______ 317K______ 267K
Out at 287K or lower – BUY EUR/USD
Out at 347K  or higher- SELL EUR/USD
Good – “actual” came out higher then “forecast” by 13K
Good – “actual” came out higher then “previous” by 30K
Good – “actual” came out higher then revised “previous” by 63K

I did not execute a trade this time!! Not enough difference!!

Here are the charts.

(EUR/JPY)

a one minute EUR/JPY chart

The EURJPY currency pair moved up for 16 minutes about 47 PIPS

(EUR/USD)

a one minute EUR/USD chart

The EUR/USD currency pair ranged up for 11 minutes about 12 PIPS
Moved down for 37 minutes about 28 PIPS

(GBP/JPY)

a one minute GBP/JPY chart

The GBP/JPY currency pair moved up 1st 4 minutes about 48 PIPS
ranged for about 16 minutes

(GBP/USD)

a one minute GBP/USD chart

The GBP/USD currency pair moved up 1st 3 minutes about 10 PIPS
Moved down for about 45 minutes about 50 PIPS

(USD/CAD)

a one minute USD/CAD chart

The USD/CAD currency pair moved down for 16 minutes about 31 PIPS
Moved up for about 31 minutes about 32 PIPS

(USD/JPY)

a one minute USD/JPY chart

The USD/JPY currency pair moved up for 16 minutes about 30 PIPS

The next schedule release of these reports will be on Wednesday, 08-25-10 at 10:00 AM ET.

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

Stay tuned!