The Fundamental FOREX Blog

On Wednesday, 08-25-10 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 Tuesday, 08-24-10 at 10:00 AM ET, click here for a review.

Here is what happened:

USD – New Home Sales – Stats

Previous = 330K ————-revised = 315K

Forecast = 335K————-revised = 333K

Actual = 276K

Here is how I was set up and the results:

USD-10-00AM-ET-08-25-10
Looking for a 30K difference
Actual > Forecast = Good for USD
USD New Home Sales
——actual———-forecast——-previous
________________335K______330K
_____276K______ 333K______ 315K
Out at 305K or lower – BUY GBP/USD
Out at 365K or higher- SELL GBP/USD

Bad – “actual” came out lower then “forecast” by 59K
Bad – “actual” came out lower then revised “forecast” by 57K
Bad – “actual” came out lower then revised “previous” by 54K
Bad – “actual” came out lower then revised “previous” by 39K

I did execute 2 trades this time of the GBP/USD currency pair!! – both losers!!

Here are the charts.

(EUR/JPY)

a one minute EUR/JPY chart

The EURJPY currency pair spiked down/up 1st minute about 25 PIPS/ 30 PIPS
Moved up for 10 minutes about 38 PIPS

(EUR/USD)

a one minute EUR/USD chart

The EUR/USD currency pair ranged for 19 minutes
Ranged for 4 minutes
Moved down next 36 minutes about 34 PIPS – wrong direction

(GBP/JPY)

a one minute GBP/JPY chart

The GBP/JPY currency pair spiked down/up 1st minute about 29 PIPS/ 38 PIPS
Moved up for 10 minutes about 45 PIPS

(GBP/USD)

a one minute GBP/USD chart

The GBP/USD currency pair ranged down for 60 minutes about 27 PIPS – wrong direction
2 losing trades here!

(USD/CAD)

a one minute USD/CAD chart

The USD/CAD currency pair moved up/down 1st minute about 19 PIPS/ 19 PIPS
Moved down for 15 minutes about 12 PIPS – right direction

(USD/JPY)

a one minute USD/JPY chart

The USD/JPY currency pair spiked down/up 1st minute about 14 PIPS/ 16 PIPS
Moved up for 10 minutes about 29 PIPS – wrong direction

The next schedule release of these reports will be on Friday, 09-24-10 at 10:00 AM ET.

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

Stay tuned!