TRADE CALL RECAP
For our last live trade call, we were looking at the US ISM Manufacturing report this past Tuesday. On this report, we were looking to sell the EURJPY if the number came out at least 2.0 worse than expected. The number came out only 1.4 worse than expected, so it did not meet our safe sell trigger. The video of this trade is below:
httpv://www.youtube.com/watch?v=Faf4VZ18otA
OUR NEXT LIVE ON THE NEWS TRADE CALLS
We will have two opportunities for trades tomorrow when the Canadian Labor Change and the US Non-Farm Payrolls reports are released. Both are excellent opportunities that have provided major moves recently.
The first release is the Canadian Labor Change report, which will be released at 7:00 am EST. This is one of my favorite releases as our safe trigger is often met and we get some very good moves on this particular release. The expectation for this report is around 15k jobs.
A higher than expected number will be good for the CAD and signal a short on the USDCAD and EURCAD, and a lower than expected number will be bad for the CAD and signal a long on the USDCAD and EURCAD. We will be looking for a deviation of 15k on this report to trigger a safe trade.
We will most likely prefer a buy trigger on this particular release as the USDCAD and EURCAD seem to be breaking out of their down trends. It should provide a good move either way, but we will likely close out sooner if we get a sell trigger.
This report has met our safe trigger in ten out of the last twelve months, and we have had traders report profits of 30 pips and more on each trade. We have even had traders report profits of up to 100 pips and more on the EURCAD on this release.
This release last met our safe trigger last month and we had traders report profits of up to 48 pips on the trade. The chart for the USDCAD at the time of last month’s trade is below:
The video of last month’s trade is below:
httpv://www.youtube.com/watch?v=BcsW6WUN82w
Our second good trade opportunity tomorrow when the US Non-Farm Payrolls report is released at 8:30 am EST. We will focus on the Non-Farm Payrolls figure, which is expected to be approximately -120k jobs. We have changed our focus on this one to the EURJPY as it has moved much better than the GBPUSD in recent months.
A higher than expected number will be good for the USD and signal a long on the EURJPY, and a lower than expected number will be bad for the USD and signal a short on the EURJPY. We will most likely be looking for a deviation of 65k on this report to trigger a safe trade.
We will most likely prefer a buy trigger as that could have a bigger impact on the stock market than a sell trigger. I anticipate a 30-50 pip spike either way, but it just may be a quick spike if we get a sell trigger.
This report last met our safe trigger in October. The trade moved very well, providing 70 pips of profit in mere seconds, and we had traders report profits of up to 85 pips on the EURJPY! The chart below shows the movement on the EURJPY at the time of October’s release:
The video of October’s trade is below:
httpv://www.youtube.com/watch?v=P9vvZt3PnjQ
This is our current outlook for these trades; 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 releases to get my commentary on these potential trades.
Good Luck!!!!
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