TRADE CALL RECAP

For our last live trade call, we were watching the Canadian Retail Sales report on Tuesday.  We were looking to buy the USDCAD and EURCAD if the number came out at least 0.4% worse than expected.  The actual number came out with a strong -0.9% deviation, so it met our safe buy trigger and we entered a trade.  We had traders report up to 30 pips of profit on the trade. The video of this trade is below:

httpv://www.youtube.com/watch?v=MEwgnIDE6iw

OUR NEXT LIVE ON THE NEWS TRADE CALL

Tomorrow we will have an opportunity for a trade when the US Durable Goods report is released at 8:30 am EDT.  We will be focusing on the US Core Durable Goods figure, which is expected to be 1.0%.  We will be looking for a deviation of 2.0% on this report to trigger a safe trade.  A higher than expected number will trigger a buy on the USDJPY and EURJPY.

The EURJPY is trading within a range of 131.25 to 135.50 lately, and it is currently in the middle of that range.  This release should be tradable either way unless we get near the high or  low of the range by the time of the release.  We will likely look to close the trade once we see 20-40 pips of profit, although it might be worth holding a portion of a buy trade.  We will need to be careful tomorrow as this release has not had a very strong impact on the market lately.

This report last met our safe trigger in March, and we had traders report profits up to 10-15 pips on the USDJPY on the trade.  The chart below shows the movement of the EURJPY at the time of March’s release. As you can see, the EURJPY moved approximately 35 pips so we will focus on that currency pair tomorrow.

To see the video of March’s trade, click on the link below:

http://www.forextradersdaily.com/vid/USDurGoods032509/

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.

Good Luck!!!!

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

This entry was posted on Thursday, September 24th, 2009 at 12:28 pm and is filed under Forex News Trading Live. 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.