JCLyons Forex Review
Thursday, April 08th (07:00 am New York Time) UK
We have UK Interest Rate coming out. It is expected to read 0.5. Last month it read 0.5 as well.
I recommend trading GBP/USD for this report.
Please read what this indicator means and how it affects the GBP/USD by going to this link: UK Interest Rate Statement
The trigger for this indicator is 0.25. This means that if UK Interest Rate comes out at 0.75 or more, GBP/USD will probably go up by 100 pips or more in the first 45 minutes of the report. If it comes out at 0.25 or less, GBP/USD will probably go down by 100 pips or more in the first 45 minutes of the report.
Don't expect any changes, however. So most likely it will be a no trade. But you never know... I remember about two years ago nobody expected a change, yet they changed, and people made over 100 pips...
Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.
To read after-spike retracement strategy for this report click here: UK Interest Rate Statement (after-spike retracement strategy)
For example: on November 6th, 2008, UK Interest Rate came out at 3, versus an expectation of 4. GBP/USD went down by over 150 pips in the first 4 minutes of the report. See for yourself what happened by seeing this chart: Forex news trading currency exchange charts
I highly recommend you study the entire history and charts of this report by following this link:
Forex News Trading | Details and History for GBP Interest Rate Statement
Good luck,
JCLyons
Forex Signals Powered by: JCLyons Review Team
Wednesday, April 7, 2010
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