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Today we had the trade balance out of the US
Today we had the trade balance out of the US which was expected at -64.5b. I said that a lower number signaled a buy and a higher number signaled a sell but it had to deviate by 1b or more to be a safe trade. The release came out .3 less than expected which was an upset seeing that in 2 years it has always came out at least half a billion off. Needless to say this was a disapointment and a no trade. After the release came out it moved up around 8 pips or so than began a steady sell off that lasted most of the day. If you took my advice on this one you passed and Its a good thing you did. If this is the first time you are receiving my trade calls please visit www.forexmastermaker.com/signals.htm once you have read over the trade call below for important information on how to trade my signals.
Yesterday I said that the trade balance should be a good trade based on historical moves. Well, tomorrow we have US Retail Sales and historically it doesnt come out as a tradable report that often. However, this month has been anything but usual and when it does hit our trigger it tends to be a good trade so my hopes are up. I will be looking for around 1%deviation on the Less Autos which is expected at .5%. If it comes out higher than expected I will go short and if it comes out lower than expected I will go long. I will also be watching the Advanced Retail Sales and would like to see it deviate in the same direction. This could be a good trade but in all likelihood will not hit our triggers… If it does hit our triggers you can expect around a 30+ pip move. I will be trading the GBP/USD and this release will be at 8:30 am eastern. Good Luck now go make some money!!!
-Dustin-
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