The Fundamental FOREX Blog

On Tuesday, 08-24-10 at 10:00 AM ET, a USD report was released, it was the USD Existing Home Sales report, released monthly by the National Association of Realtors.

This report was released alone with 1 other:

USD-Richmond Manufacturing Index

Released monthly by Federal Reserve Bank of Richmond

At the last minute I switched currency pairs to trade.
I did execute 2 trades of the USD/CAD – both winners!

The EUR/USD currency pair would have been a much better trade!

I did a “preview” post on Monday, 08-23-10 for these reports, click here for a review.

Here are the stats for this month:

USD Existing Home Sales stats:

Previous = 5.37 M———-revised = 5.26 M

Forecast = 4.66 M———-revised = 4.68 M

Actual = 3.83 M

This “forecast” indicated that there would be a decrease of home sales over last months sales, and there was – a big decrease.

Here is how I was set up for these reports, and the results:

USD-10-00AM-ET-08-24-10
Looking for a 20K difference
Actual > Forecast = Good for USD
USD Existing Home Sales
——actual——–forecast———-previous
______________4.66M________5.37M
_____3.83M____ 4.68M _______5.26M
Out at 4.86M or Higher – BUY USD/CAD
Out at 4.46M or Lower- SELL USD/CAD
Bad – “actual” came out lower then the “forecast” by 830K
Bad – “actual” came out lower then the revised “forecast” by 850K
Bad – “actual” came out lower then the “previous” by 1.54M
Bad – “actual” came out lower then the revised “previous” by 1.43M

Let’s take a look at the charts and see how things worked out:

(EUR/JPY )

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down 1st 2 minutes about 46 PIPS
Moved up next 27 minutes about 110 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved down 1st 22 minutes about 46 PIPS – wrong direction
Moved up next 25 minutes about 103 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down 1st 3 minutes about 47 PIPS
Moved up next 57 minutes about 107 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair moved down 1st 2 minutes about 10 PIPS – wrong direction
Moved up next 24 minutes about 80 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair moved up 1st 2 minutes about 32 PIPS – wrong direction
Moved down next 58 minutes about 80 PIPS – right direction
2 winning trades!

(USD/JPY )

a one minute USD/JPY chart

This USD/JPY currency pair moved down 1st 3 minutes about 27 PIPS – right direction
Moved up next 57 minutes about 43 PIPS – wrong direction

The next scheduled release of this report will be Thursday, 09-23-10 at 10:00 AM ET. A month is a long time, re-scheduling can occur any time.

I will probably be writing a “preview” post for this up-coming report.

So, stay tuned!