Forex Trade Call

TRADE OPPORTUNITY TONIGHT

There is an opportunity to trade tonight when the AUD Retail Sales is released at 7:30pm EST. Your focus should be on the AUD Retail Sales (MoM) figure, which is expected to be 0.5%. We have placed a safe trigger of 0.4% for this release. We have historically seen moves of around 30 pips when this release has had a deviation of 0.4% or higher.

We would prefer to see a sell trigger on this release as the AUD/USD is in a down trend. Also, the interest rate decision is later in the evening and the RBA is expected to lower interest rates by .25%, which could make the AUD/USD drop further. We will most likely see a spike either way if it meets our safe trigger, but you may want to close out of a buy trade quickly.

This trade last met our safe trigger last July and the AUDUSD moved approximately 30 pips. The chart for the AUDUSD around the time of July’s trade is below:

We will not have the Live Trade Room open for this trade, but I wanted to make you aware of the opportunity.

Reserve Bank of Australia

Also, the Reserve Bank of Australia is coming out with their interest rate statement tonight at 10:30 pm EST. It is anticipated that they will lower interest rates by .25%. This could also provide a good move if the RBA either does not lower rates or lowers them more than expected. Again, we are not trading this in the Live Trade Room, but I wanted to make you aware as this will have an impact on any trades you may be in on the AUD/USD.

Good Luck!!!!

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