I came across this interesting chart that shows the disaster that happened to US new home sales in the last few years. To help my current open position, I really hope a terrible data will come out in 15 minutes 
Last month it was 515K and now they expect it to be around 505K which is bad for the USD, but it’s expected so I don’t know how much it would shake the market.
I number below 500K would mean a lot of $$ for my current open buy positions on eur/usd
Ok, There are a few things one should know about this particular economic indicator. First of all, it doesn’t come from one source, instead it is compiled from a bunch of reports and one can decide which one he/she would like to go with. The second important matter is that most of the people misinterpret it.. you shouldn’t look at the exact value: 4.93M is expected now, it means that on an annualized rate, so we expect 4.93M houses to be sold this year. This is why they say that more sales made, better for the currency, BUT! You have to look at the price of these also. Now if THAT is a rising trend, that means the economy is getting stronger and the crisis around house prices is fading. Not easy to interpret this news, but it’s pretty important, so heavy volatility is expected when it’s released. More on the results later.
BTW I’m still holding to one of my longs as I don’t see any real reasons to let go of it yet. I have scalped the market for +50pips this morning yet again, so my effective price is a lot better right now. Let’s see what the market has for us today.
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