Trading Signals and News Update For Tuesday

1. Tuesday, September 4th, 2007 (1:45 a.m. New York Time) SWITZERLAND
On Tuesday at 1:45 a.m. New York time we will have Swiss GDP coming out Switzerland. It is expected to read at 0.7%, exactly as last quarter. If it reads 1% or higher, I think USD/CHF may possibly go down by 15 to 20 pips in the first hour of the report. On the other hand, if it comes out at 0.4 or lower, I think USD/CHF may possibly go up 15 to 20 pips in the first hour of the report. That's kind of doggie indicator, it seems people doesn't care about Swiss GDP too much so if you want to trade that, just be very careful. Don't expect much more than 15 to 20 pips of the move, and I would suggest exiting in the first half hour because in my experience it retraces 100% within the first hour after it hits its target of 15 to 20 pips. I will probably skip that one, but if you want to trade it, trade it.

2. Tuesday, September 4th, 2007 (10:00 a.m. New York Time) USA
At 10 a.m. New York time will have ISM manufacturing coming out of the United States. It is expected to read at 53 versus 53.8 last month. I will definitely be trading this one. If it comes out 55 or higher, I think GBP/USD may possibly go down by 40 pips or more in the first hour of the report. On the other hand, if it comes out at 51 or lower, I think GBP/USD may possibly go up by 40 pips or more in the first hour of the report. As always, watch out for important support and resistance price levels.

3. Tuesday, September 4th, 2007 (7:30 p.m. New York Time) AUSTRALIA
Then, at 7:30 p.m. New York time will have Australia releasing its interest rates statement. It is anonymously expected that they will leave it unchanged at 6.50%. If for some reason they decide to hike to 6.75%, I think AUD/USD may possibly gain 80 pips or more in the first hour of the report. However, this is extremely unlikely. It wouldn't be probably a smart move for Australia to do that so quickly so if you want, you may skip this indicator.

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