TRADE CALL RECAP

Last Friday morning we were looking at the US CPI report, and we were planning to buy the EURJPY if the number came out at least 0.2% better than expected. The actual number came out with no deviation, so it did not meet our trigger.

OUR NEXT LIVE ON THE NEWS TRADE CALL

Tomorrow we will have an opportunity for a trade when the UK CPI report is released at 4:30 am EST. There are several components to this release, and we will be focusing on the UK CPI (EU Harmonized YoY) figure.  The expectation for this report is 2.6%. We will be looking for a deviation of at least 0.2% to trigger a safe trade.

We could see a good initial move with a safe trigger in either direction, but we will most likely close out the trade quickly if we get a buy trigger and hold it if we get a sell trigger. We will want to be very careful on this release as a couple of times in the last few months the initial move has gone against the deviation by about 20 pips before it moved in the correct direction.

This report met our safe trigger seven months last year, and the GBPUSD moved approximately 15-60 pips each time, except for two months when the GBPUSD initially went against the direction of the deviation. This release last met our safe trigger in October and we had traders report profits of up to 20 pips on the trade. The chart below shows the movement of the GBPUSD at the time of October’s release:

To see a video of October’s trade, click on the following link:

httpv://www.youtube.com/watch?v=Rtlqs2Q7V64

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 REAL TIME TOMORROW?

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

This entry was posted on Monday, January 18th, 2010 at 12:59 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 skip to the end and leave a response. Pinging is currently not allowed.