TRADE OPPORTUNITY TONIGHT

There is an opportunity to trade later today when the Australian Labor Change report is released at 8:30 pm EDT. The focus should be on the Labor Force Employment figure, and the expectation for this release is -10k jobs. We have placed a safe trigger of 15k jobs for this release. We have historically seen moves of around 25 to 50 pips when this release has met the safe deviation.

We will most likely prefer to see a buy trigger on this particular release as a more positive number will most likely be more of a shock than a worse than expected number. We could still get a good move on a sell trigger, but you will likely want to exit with 25-40 pips of profit if it triggers a sell. You will want to keep a close eye on this release as the news can sometimes come out a little late. If you see a quick move on the AUDUSD before the news comes out, you will want to shut off the auto-click quickly.

This release last met our safe trigger in August, and the AUDUSD moved approximately 25-30 pips. The chart of the AUDUSD at the time of August’s release is below:

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

Our next live trade opportunities come on Friday when the Canadian jobs report and the Canadian and US trade balance reports come out.

Good Luck!!!!

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for important information on how to use my calls.

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This entry was posted on Wednesday, October 7th, 2009 at 12:29 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.