On Tuesday, 07-27-10, at 10:00AM ET the USD Consumer Confidence report was released.
The last “preview” was posted on Monday, 07-26-10, click here for a review.
Also the USD – Richmond Manufacturing Index was released by The Federal Reserve Bank of Richmond
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 = 52.9
Forecast = 51.5———– revised = 51.3
Actual = 50.4
Here is how I was set up, and the results:
USD-10-00 AM-ET-07-27-10
Looking for a 5.0 difference
Actual > Forecast = Good for the USD
USD CB Consumer Confidence
——actual——–forecast——–previous
______________51.5_________52.9
______50.4____ 51.3
out at 56.5 or higher – BUY USD/JPY
out at 46.5 or lower – SELL USD/JPY
Bad – “actual” came out lower then “forecast” by 1.1
Bad – “actual” came out lower then revised “forecast” by 0.9
Bad – “actual” came out lower then “previous” by 2.5
Did not enter a trade!!
I had set up to trade the currency pair USD/JPY with a 5.0 difference between the “actual” and the “forecast”.
Well, the “actual” did not come out greater then the 5.0 difference!
Check out the charts.
(EUR/JPY)
a one minute EUR/JPY chart
The currency pair EUR/JPY moved up 1st 2 minutes about 23 PIPS
Moved down for 13 minutes about 61 PIPS
(EUR/USD)
a one minute EUR/USD chart
The currency pair EUR/USD moved up 1st 2 minutes about 14 PIPS
Moved down for 13 minutes about 52 PIPS
(GBP/JPY)
a one minute GBP/JPY chart
The currency pair GBP/JPY moved up 1st 2 minutes about 26 PIPS
Moved down for 13 minutes about 57 PIPS
(GBP/USD)
a one minute GBP/USD chart
The currency pair GBP/USD moved up 1st 2 minutes about 14 PIPS
Moved down for 13 minutes about 42 PIPS
(USD/CAD)
a one minute USD/CAD chart
The currency pair USD/CAD moved down 1st 2 minutes about 20 PIPS
Moved up for 44 minutes about 80 PIPS
(USD/JPY)
a one minute USD/JPY chart
The currency pair USD/JPY moved up 1st minute about 9 PIPS
Moved down for 7 minutes about 22 PIPS
Moved up for 39 minutes about 49 PIPS
The next release of these reports will be on Tuesday, 08-31-10 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!
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