TRADE CALL RECAP

For our last live trade call, we were watching the Canadian GDP report this morning. We suggested raising the triggers, so we were looking to buy the EURCAD if the number came out at least 0.8% worse than expected. The actual number came out only 0.1% worse than expected, so it did not meet our safe trigger.

OUR NEXT LIVE ON THE NEWS TRADE CALL

Our next live trade opportunity comes tomorrow when the US Durable Goods report is released at 8:30 am EST. We will be focusing on the US Core Durable Goods figure, which is expected to be 0.6%. We will be looking for a deviation of at least 2.0% on this report to trigger a safe trade. A higher than expected number will trigger a buy on the USDJPY and EURJPY.

This release should be tradable either way if it meets our safe trigger. 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 want to use extreme caution tomorrow as this release has not had a very strong impact on the market lately. In addition, there is some additional US data coming out at the same time that could also impact the market.

This report last met our safe trigger last month, and some additional data came out in strong disagreement with this trade. As a result, we had traders report small losses of up to 10-15 pips on the EURJPY on the trade. We don’t have EURJPY data from last month, so the chart below shows the movement of the USDJPY at the time of last month’s release.

The video of last month’s trade is below:

httpv://www.youtube.com/watch?v=PzosVm9-lBc

This is our current outlook for this trade opportunity; 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 the 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 REAL TIME TOMORROW?

Then visit: http://www.forextradersdaily.com/forex2.php

This entry was posted on Wednesday, December 23rd, 2009 at 8:19 am 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.