Written by dustin pass
Friday, February 27th, 2009
US Durable Goods Report
TRADE CALL RECAP
For our last live trade call, we were looking at the US Durable Goods report this morning. We were looking to enter a short on the USD/JPY if the figure came out at least 2.0% worse than expected. The actual number came out with a deviation of -0.3%, so it did not meet our safe trigger.
US GDP REPORT
OUR NEXT LIVE ON THE NEWS TRADE CALL
We will have an opportunity for a trade tomorrow when the US GDP report is released at 8:30 am EST. For the US GDP, we will be focusing on the GDP Annualized figure, which is expected to be -5.4%. We will be looking for a deviation of 0.4% on this report to trigger a safe trade. A higher than expected number will trigger a sell on the GBP/USD.
US STOCK MARKET
We will likely prefer a sell trigger on this as a better than expected number could have a bigger impact on the USD and the stock market, and the GBP/USD is in an overall down trend. We will be very careful with this release as last month the GBP/USD went the wrong direction by about 15-20 pips before moving in the right direction.
This report last met our safe trigger last month, and we had traders report profits up to 20 pips on the trade or a small loss, depending on if they held on after the initial spike in the wrong direction. The chart below shows the movement of the GBP/USD at the time of last month’s release.
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To see a video of September’s trade, click on the link below:
http://www.tradingliveonthenews.com/vid/USCADGDP013009/
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 this potential trade.
HOW TO TRADE THE FREE CALLS
If this is the first time you are receiving my trade calls, please visit…
http://www.forextradersdaily.com/signals.htm
for important information on how to use my calls.
WOULD YOU LIKE ME TO COACH YOU THROUGH
THIS TRADE IN REALTIME TOMORROW?
Then visit: http://www.forextradersdaily.com/forex2.php
