US GDP PROVIDES UP TO 30 PIPS OF PROFIT

For our last live trade call, we were watching the US GDP
report that was released this morning.  We were going to sell
the GBPUSD if the deviation was 0.4% or higher.  The actual
number came out with a 0.6% deviation, so it met our trigger
and we had traders report profits of up to 30 pips on this
release, depending on their entries.  To view a video of the
trade, click on the link below:

http://www.tradingliveonthenews.com/vid/usgdp082808/

OUR NEXT LIVE ON THE NEWS TRADE CALL

Tomorrow we will have an opportunity to trade when the Canadian
GDP is released at 8:30 am EDT.  The expectation for this
release is 0.1%, and we will be looking for a deviation of at
least 0.2% to trigger a safe trade. A higher than expected
number would be good for the CAD and signal a sell on the
USD/CAD and EUR/CAD.  We can expect a 25-80 pip move on the
EURCAD if it meets our safe trigger. 

This report met our safe trigger last month and we had traders
report profits up 45 pips on the EURCAD.  To see a video of
this trade, click on the link below:

http://www.tradingliveonthenews.com/vid/USCADGDP073108/

This is our current outlook for this trade; however, it is
subject to change as market conditions may change by tomorrow.
Be sure to log in to the Live Trade Room 15 minutes prior to
the release to get my commentary on the trade.

Good Luck!!!!

This entry was posted on Thursday, August 28th, 2008 at 4:58 pm and is filed under US News Data. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.