Forex Trading Signal 06/23/09

Written by uzomaeze on June 23rd, 2009

1000 US Existing Home Sales m/m (4.82M expected) – Exisiting home sales has been the most active and best trading housing report in recent months. I expect it to pull both stocks and currencies, but be careful at watch related headlines in case some other details of the report (like median sale price and % from foreclosures) cause a bit of second guessing. If it comes out at 5.00M or higher, EUR/USD should rally 40-50 pips in the first 20 minutes. If it comes out at 4.62M or lower, EUR/USD should sell off 40-50 pips in the first 20 minutes.

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