US Existing Home Sales is expected to rise slightly from the previous month as current foreclosure rate is still remaining resiliently high. Here’s the forecast:
10:00am Existing Home Sales Forecast 4.60M Previous 4.47M
The Trade Plan
If our buy tradable deviation is hit, or 5.00M figure is released, we should look to BUY USD after the release. If our sell tradable deviation is hit, or 4.20M figure is released, we should look to SELL USD.
We’ll be looking to trade this release using the after-news retracement trading method. We’ll wait for the release, wait for market reaction, and wait for retracement before jumping in. For more information:
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EURUSD.
US Existing Home Sales | September 19, 2012 | Forex News Plan
September 14, 2012 By 5 Comments