Forex News Signals from buzai232's blog

Everyone knows that news moves markets, but few retail traders can take advantage of those opportunities. At BK we've developed a proprietary model to forecast news. We spent thousands of man-hours developing a system to predict economic surprises and we share these predictions with our subscribers every day. We make 1 to 3 calendar calls daily and send out between 8 to 12 recommendations per week. These are soft recommendations that provide potential trading setups based on the economic data surprises. Not only do we tell you what a constitutes a surprise but we also provide you with reasons why the consensus may be wrong.To get more news about Free Forex Signals, you can visit wikifx.com official website.

1 NEWS TRADING BATTLE PLAN (WEEKLY)
First and foremost, at the beginning of EVERY WEEK, we send out a spreadsheet outlining our Monday to Friday News Trading Battle Plan. We go through the entire economic calendar, pick out only the potentially market moving opportunities and indicate whether we believe the data will be stronger or weaker than expected and tell you why we think so. On top of that, we suggest the currency pair to trade for every potential opportunity.
2 DETAILED ANALYSIS OF NEWS TRADE WITH CHART (DAILY)
Then EVERY DAY when there is a tradable piece of data, we send out a chart with detailed commentary that takes a look at trade from 3 angles - Fundamental, Technical and Sentiment. Every week, we will be sending out between 8-12 BONUS ideas based on the G-10 global economic calendar. Unlike simple Buy/Sell instructions of other signal services, our research comes with a full explanation of why we think the data may surprise and what currency pair we think would respond best if our analysis is correct. With BK News trades you can make a fully informed decision on whether you want to participate in a particular trade or not. Here's a sample.
New Zealand GDP numbers will be released at 6:45pm ET / 22:45 GMT. We have strong reasons to believe that Q2 GDP numbers will surprise to the upside. The 2 most important components of GDP are retail sales and trade and both saw improvements in Q2 versus Q1. Unlike the Federal Reserve and other major central banks, the RBNZ is comfortably on hold. If growth surprises to the upside like we expect, it would be very positive for the NZD/USD because it increases the divide between New Zealand and U.S. monetary policies. The Reserve Bank of New Zealand is comfortably on hold while the Federal Reserve is easing as aggressively as they can.

NZD/USD is currently trading near its 6 month high. If Q2 GDP numbers surprise to the upside, we could see a rally to 83 cents but a sustained break of that level will be needed to open the door for further gains. 0.8300 is significant not just because it's the next round number but also because it has capped gains in the currency for the past 3 trading days. If that level is cleared, then there's a reasonable chance for NZD/USD to break the 6 month high of 0.8356. If GDP surprises to the downside, NZD/USD will fall and most likely break below the 10-day SMA at 0.8225. If that happens and the currency pair breaks 0.8200 as well, we could see an extension down to the 50-day SMA of 0.8085.

Based on how well the NZD/USD is holding its breakout above 0.8200, especially when compared to the EUR and AUD, there's no question that investors like the currency. Since NZD is also a risk currency, the fact that stocks have been holding onto their gains supports the possibility of an upside breakout.